Fill the missing amonuts in Mr.Green Trial Balance, SOCI, SFP and SOCIE. Please if the amount is zero dont forget to input 0 in the relevant cells. Prepare the financial statements of Green for 30 September Year 7 and for the year then ending. The following trial balance was extracted from the books of Green at 30 September Year 7:AccountDr.Cr.Inventory 1 October Year 61 153Purchases37 695Sales (revenues)75 000Sales (revenues) returns1 000Purchases returns1 500Account receivables13 000Allowance for doubtful debts on 1 October Year 6100Account payablesBank1 0004 500Cash in handFixtures and FittingsMotor Vehicles4511 70018 000Retained earnings on 1 October Year 68 463Drawings4 500Capital15 000Wages and Salaries (admin staff)InsuranceAdvertisingMotor Vehicle running costsAccountancy feesDiscounts grantedDiscounts receivedBad and doubtful debt expense4 0003 0001 5002 2102 5001 0002 500760Suspense account3 000ТOTAL:106 563 106 563Notes:1. At 30 September Year 7: Notes:1. At 30 September Year 7:2. Closing inventory valued at cost $10,0003. Wages not yet paid but vested in the period $1 000.4. On 1st May the fee for accountant was paid. No other fees were paid for theaccountant before (or after). The fee was paid for half a year (1st May - 31 Oct).5. The suspense account includes a payment (contribution) for the business from theowner of the business (Green) The bookkeeper did not know what to do with thepayment, so she included the payment in the books, but the other "leg" was thesuspense account.6. One of our customers went bankrupt whose outstanding balance was $300 theallowance for doubtful debts will be 5% according to previous experience.7. The motor vehicles are used for the selling function, the insurance is also only for thevehicle.8. There is no income tax charged in the country.Required:Prepare the financial statements of Green for 30 September Year 7 and for the year thenending. Show all calculations!

Every company maintains its records under which it prepares the financial statements which include…

The following trial balance was extracted from the books of Green at 30 September Year 7: Account Cr. Inventory 1 October Year 6 Purchases Sales (revenues) Sales (revenues) returns Purchases returns Account receivables Allowance for doubtful debts on 1 October Year 6 Dr. 1 153 37 695 1 000 13 000 75 000 1 500 100

The following trial balance was extracted from the books of Green at 30 September Year 7: Account Cr. Inventory 1 October Year 6 Purchases Sales (revenues) Sales (revenues) returns Purchases returns Account receivables Allowance for doubtful debts on 1 October Year 6 Dr. 1 153 37 695 1 000 13 000 75 000 1 500 100

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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Please write a general journal and general ledger (date, description, account#, debit, credit).
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