Create a Balance Sheet from the following information. The following trial balance was extracted from the books of a retal trader, who has been in business foRink KametTrial Balance as at 30 April 2020"Dr.Cr.Sales288, 128Purchases143,568216,000108,00020,790EqupmentMotor VehicleDepreciation expenseProvision for depreciation - EquipmentProvision for depreciation - Motor VehldeOpening stockReturns In81,90036,00028,1701,170Returns out432Accounts payablesAccounts recelvablesBad debts expenseBank45,79451,4801,89036,79213,5002,6102,4303,294CashCarlage inCalage outDiscounts allowedDiscounts recelvedСapitalDrawingsRentInsurance2160212,05822,50043,2006,012Interest expenseLoan7.43452,0001,548Provision for bad deotsTelephoneWater rates5,9405.240720,020720,020Stock at 30 Apri 2020 was $25,700You are required to prepare the financial statements (Income Statement and BalanceSheet) for the year ended 30 April 2020

Final accounts are prepared to find the net losses and gains to be shown in the financial position…

The folowing tral balance was extracted from the books of a retal trader, who has been in business to Rink Kamet Tral Balance as at 30 Apri 2020 "Dr. Cr. Sales 288, 128 Purchases 143,568 216.000 108,000 20,790 Equpment Motor Vehicie Depreciation expense Provision for depreciation - Equipment Provision for depreciation - Motor Vehide Opening stock Retuns in 81.900 36.000 28,170 1,170 Retums out 432 Accounts payabies Accounts recelvabies Bad debts expense Bank 45,794 51,480 1,890 36,792 13.500 2610 2430 3.294 Cash Camage in Camage out Discounts allowed Discounts recelved Captal Drawings Rent Insurance 2160 212.058 22.500 43.200 6,012 7434 Interest expense Loan Provision for bad dects 52.000 1,548 Telephone Water rates 5,940 5240 720.020 720,020 Stock at 30 Apri 2020 was S25,700 You are required to prepare the financial statements (Income Statement and Balance Sheet) for the year ended 30 April 2020 .... ... ...

The folowing tral balance was extracted from the books of a retal trader, who has been in business to Rink Kamet Tral Balance as at 30 Apri 2020 "Dr. Cr. Sales 288, 128 Purchases 143,568 216.000 108,000 20,790 Equpment Motor Vehicie Depreciation expense Provision for depreciation - Equipment Provision for depreciation - Motor Vehide Opening stock Retuns in 81.900 36.000 28,170 1,170 Retums out 432 Accounts payabies Accounts recelvabies Bad debts expense Bank 45,794 51,480 1,890 36,792 13.500 2610 2430 3.294 Cash Camage in Camage out Discounts allowed Discounts recelved Captal Drawings Rent Insurance 2160 212.058 22.500 43.200 6,012 7434 Interest expense Loan Provision for bad dects 52.000 1,548 Telephone Water rates 5,940 5240 720.020 720,020 Stock at 30 Apri 2020 was S25,700 You are required to prepare the financial statements (Income Statement and Balance Sheet) for the year ended 30 April 2020 .... ... ...

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 7PB: Using the following information, A. Make the December 31 adjusting journal entry for depreciation....

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Question

Create a Balance Sheet from the following information.

The following trial balance was extracted from the books of a retal trader, who has been in business fo
Rink Kamet
Trial Balance as at 30 April 2020
"Dr.
Cr.
Sales
288, 128
Purchases
143,568
216,000
108,000
20,790
Equpment
Motor Vehicle
Depreciation expense
Provision for depreciation - Equipment
Provision for depreciation - Motor Vehlde
Opening stock
Returns In
81,900
36,000
28,170
1,170
Returns out
432
Accounts payables
Accounts recelvables
Bad debts expense
Bank
45,794
51,480
1,890
36,792
13,500
2,610
2,430
3,294
Cash
Carlage in
Calage out
Discounts allowed
Discounts recelved
Сapital
Drawings
Rent
Insurance
2160
212,058
22,500
43,200
6,012
Interest expense
Loan
7.434
52,000
1,548
Provision for bad deots
Telephone
Water rates
5,940
5.240
720,020
720,020
Stock at 30 Apri 2020 was $25,700
You are required to prepare the financial statements (Income Statement and Balance
Sheet) for the year ended 30 April 2020

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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