Thrilled Incorporated presented you with the following post-adjustment trial balance for the year ended 31 March 2022: Description Debit Credit Ordinary shares 1 200,00 Preference shares 800,00 Retained earnings 6 070,00 Trade creditors 1 590,00 Plant and machinery 5 300,00 Motor vehicles 1 900,00 Office furniture 550,00 Trade debtors 640,00 Accumulated depreciation on plant and machinery 150,00 Accumulated depreciation on motor vehicles 70,00 Accumulated depreciation on office furniture 35,00 Cash and bank 3 100,00 Prepaid expenses 45,00 Sales 4 100,00 Cost of sales 1 500,00 Operating expenses 980,00 14 015,00 14 015,00 Required: Prepare the Statement of Financial Position for Thrilled Incorporated for the financial year ended 31 March 2022
Thrilled Incorporated presented you with the following post-adjustment trial balance for the year ended 31 March 2022: Description Debit Credit Ordinary shares 1 200,00 Preference shares 800,00 Retained earnings 6 070,00 Trade creditors 1 590,00 Plant and machinery 5 300,00 Motor vehicles 1 900,00 Office furniture 550,00 Trade debtors 640,00 Accumulated depreciation on plant and machinery 150,00 Accumulated depreciation on motor vehicles 70,00 Accumulated depreciation on office furniture 35,00 Cash and bank 3 100,00 Prepaid expenses 45,00 Sales 4 100,00 Cost of sales 1 500,00 Operating expenses 980,00 14 015,00 14 015,00 Required: Prepare the Statement of Financial Position for Thrilled Incorporated for the financial year ended 31 March 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Thrilled Incorporated presented you with the following post-adjustment
31 March 2022:
| Description | Debit | Credit |
| Ordinary shares | 1 200,00 | |
| 800,00 | ||
| 6 070,00 | ||
| Trade creditors | 1 590,00 | |
| Plant and machinery | 5 300,00 | |
| Motor vehicles | 1 900,00 | |
| Office furniture | 550,00 | |
| Trade debtors | 640,00 | |
| 150,00 | ||
| Accumulated depreciation on motor vehicles | 70,00 | |
| Accumulated depreciation on office furniture | 35,00 | |
| Cash and bank | 3 100,00 | |
| Prepaid expenses | 45,00 | |
| Sales | 4 100,00 | |
| Cost of sales | 1 500,00 | |
| Operating expenses | 980,00 | |
| 14 015,00 | 14 015,00 |
Required:
Prepare the
March 2022
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