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
Related questions
Topic Video
Question
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
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education