Try questions - single entry and incomplete records 1. Fremah Enterprise does not keep a complete set of accounting records. For the year ended 31st December, 2013 the following information was extracted from the records kept by the enterprise: Fixtures and fittings Building Inventory Accounts Receivable Cash at Bank 1" January, 201331" December, 2013 GH¢ 16,000 17,000 8,000 5,000 8,000 12,000 4,000 GH¢ 12,000 16,000 10,000 6,000 12,000 16,000 3,000 Loan Accounts Payable Additional Information: a) Rent prepaid on 31$t' December, 2013 was GH¢ 1,000. b) Insurance owing on 31st December, 2013 was GH¢ 3,000. c) During the year drawings made by Fremah, the proprietor were GH¢200 per week in cash and GH¢40 per mouth from inventory. d) Provision for doubtful debt of GH¢ 1,000 is to be made.

Try questions - single entry and incomplete records 1. Fremah Enterprise does not keep a complete set of accounting records. For the year ended 31st December, 2013 the following information was extracted from the records kept by the enterprise: Fixtures and fittings Building Inventory Accounts Receivable Cash at Bank 1" January, 201331" December, 2013 GH¢ 16,000 17,000 8,000 5,000 8,000 12,000 4,000 GH¢ 12,000 16,000 10,000 6,000 12,000 16,000 3,000 Loan Accounts Payable Additional Information: a) Rent prepaid on 31$t' December, 2013 was GH¢ 1,000. b) Insurance owing on 31st December, 2013 was GH¢ 3,000. c) During the year drawings made by Fremah, the proprietor were GH¢200 per week in cash and GH¢40 per mouth from inventory. d) Provision for doubtful debt of GH¢ 1,000 is to be made.

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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