The following trial balance was extracted from the books of a retail trader, who has been in business foRink KametTrial Balance as at 30 April 2020Dr.Cr.Sales288,128Purchases143,568216,000108,000EquipmentMotor VehicleDepreciation expenseProvision for depreciation - EquipmentProvision for depreciation - Motor VehicleOpening stockReturns in20,79081,90036,00028,1701,170Returns out432Accounts payables45,79451,4801,89036,79213,500Accounts receivablesBad debts expenseBankCashCarriage inCarriage out2,6102,4303,294Discounts allowedDiscounts received2,160212,058CapitalDrawings22,50043,2006,012RentInsuranceInterest expense7,434Loan52,0001,548Provision for bad debtsTelephoneWater rates5,9405,240720,020720,020Stock at 30 April 2020 was $25,700You are required to prepare the financial statements (Income Statement and BalanceSheet) for the year ended 30 April 2020

Financial statements means Income statement and Balance sheet of the business organisatio .

The following trial balance was extracted from the books of a retail trader, who has been in business fo Rink Kamet Trial Balance as at 30 April 2020 Dr. Cr. Sales 288,128 143,568 216,000 108,000 20,790 Purchases Equipment Motor Vehicle Depreciation expense Provision for depreciation - Equipment Provision for depreciation Motor Vehicle Opening stock Returns in 81,900 36,000 28,170 1,170 Returns out 432 Accounts payables Accounts receivables 45,794 51,480 1,890 36,792 13,500 2,610 2,430 3,294 Bad debts expense Bank Cash Carriage in Carriage out Discounts allowed Discounts received 2,160 212,058 Capital Drawings 22,500 43,200 6,012 7,434 Rent Insurance Interest expense Loan 52,000 1,548 Provision for bad debts Telephone Water rates 5,940 5,240 720,020 720,020 Stock at 30 April 2020 was $25,700 You are required to prepare the financial statements (Income Statement and Balance Sheet) for the year ended 30 April 2020

The following trial balance was extracted from the books of a retail trader, who has been in business fo Rink Kamet Trial Balance as at 30 April 2020 Dr. Cr. Sales 288,128 143,568 216,000 108,000 20,790 Purchases Equipment Motor Vehicle Depreciation expense Provision for depreciation - Equipment Provision for depreciation Motor Vehicle Opening stock Returns in 81,900 36,000 28,170 1,170 Returns out 432 Accounts payables Accounts receivables 45,794 51,480 1,890 36,792 13,500 2,610 2,430 3,294 Bad debts expense Bank Cash Carriage in Carriage out Discounts allowed Discounts received 2,160 212,058 Capital Drawings 22,500 43,200 6,012 7,434 Rent Insurance Interest expense Loan 52,000 1,548 Provision for bad debts Telephone Water rates 5,940 5,240 720,020 720,020 Stock at 30 April 2020 was $25,700 You are required to prepare the financial statements (Income Statement and Balance Sheet) for the year ended 30 April 2020

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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