the following is the trail balance of Ksmooth as at 31st march 2002. Draw up a set of final accounts for the year ended 31st March 2002. DrCrStock 1st April 20011,816,000 sales 9,234,000purchase6,918,500 carriage inwards42000 carriage outwards157000 Returns outwards 64,000wages and salaries1,024,000 rent and rates301,500 communication expenses62400 commisions payable21600 insurance40500 sundry expenses31800 buildings2,000,000 debtors1,432,000 creditors 816,000fixtures285000 cash at bank27000 cash in hand11500 drawings762,000 capital 5,088,800 152,028152028

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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the following is the trail balance of Ksmooth as at 31st march 2002. Draw up a set of final accounts for the year ended 31st March 2002.

	Dr	Cr
Stock 1st April 2001	1,816,000
sales		9,234,000
purchase	6,918,500
carriage inwards	42000
carriage outwards	157000
Returns outwards		64,000
wages and salaries	1,024,000
rent and rates	301,500
communication expenses	62400
commisions payable	21600
insurance	40500
sundry expenses	31800
buildings	2,000,000
debtors	1,432,000
creditors		816,000
fixtures	285000
cash at bank	27000
cash in hand	11500
drawings	762,000
capital		5,088,800
	152,028	152028

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