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s 1. From the following trial balance prepare the final accounts Debit Balances Drawings Opening stock Furniture and fittings Printing and stationery Coal, gas and water Freight Purchases Income tax Discount allowed Repairs Factory rent Salaries and wages Manufacturing exp Advertising Plant and machinery Office rent Misc. Expenses Bills receivable Carriage outwards Insurance premium Interest Cash at hand Cash at bank Sundry debtors ✓ Adjustments Bs Rs 4800 30000 Asst 13000 12000 600 3500 75000 9500 950 1000 2500 2800 24000 19000 70000 3600 1000 12500 1500 600 1000 3500 7500 33800 333650 Credit Balances Capital BS Sundry creditors BS Bank loan@ 6% Dividend Sales Provision for bad and doubtful debts (op.bal) Bills payable BIS Commission Suspense account Closing stock 36850, Factory rent unpaid 500 Insurance premium prepaid for a quarter →600-150 4. Dividend accrued but not yet received 50 → Asset, 5. Commission received in advance 100 11. Provide 5% for bad and doubtful debts 2. Provide 2% for discount on debtors 13. Provide 2% for discount on creditors. 6. Depreciate plant and machinery @10% and furniture and fittings at 5%, Provide interest on capital@6%, Provide interest on drawings@5%, 9. Bank interest outstanding S 10. Write off bad debts 800 100x 38800676 600 €150 Rs 50000 10000 20000 200 235350 600 6500 200 10800 333650

s 1. From the following trial balance prepare the final accounts Debit Balances Drawings Opening stock Furniture and fittings Printing and stationery Coal, gas and water Freight Purchases Income tax Discount allowed Repairs Factory rent Salaries and wages Manufacturing exp Advertising Plant and machinery Office rent Misc. Expenses Bills receivable Carriage outwards Insurance premium Interest Cash at hand Cash at bank Sundry debtors ✓ Adjustments Bs Rs 4800 30000 Asst 13000 12000 600 3500 75000 9500 950 1000 2500 2800 24000 19000 70000 3600 1000 12500 1500 600 1000 3500 7500 33800 333650 Credit Balances Capital BS Sundry creditors BS Bank loan@ 6% Dividend Sales Provision for bad and doubtful debts (op.bal) Bills payable BIS Commission Suspense account Closing stock 36850, Factory rent unpaid 500 Insurance premium prepaid for a quarter →600-150 4. Dividend accrued but not yet received 50 → Asset, 5. Commission received in advance 100 11. Provide 5% for bad and doubtful debts 2. Provide 2% for discount on debtors 13. Provide 2% for discount on creditors. 6. Depreciate plant and machinery @10% and furniture and fittings at 5%, Provide interest on capital@6%, Provide interest on drawings@5%, 9. Bank interest outstanding S 10. Write off bad debts 800 100x 38800676 600 €150 Rs 50000 10000 20000 200 235350 600 6500 200 10800 333650

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter6: Receivables And Inventories
Section: Chapter Questions
Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...
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1. From the following trial balance prepare the final accounts Debit Balances Credit Balances Drawings Capital BS Opening stock Sundry creditors BS Bank loan@ 6% Dividend Sales Provision for bad and doubtful debts (op.bal) Bills payable BIS Commission Suspense account Furniture and fittings Printing and stationery Coal, gas and water Freight Purchases Income tax Discount allowed Repairs Factory rent Salaries and wages Manufacturing exp Advertising Plant and machinery Office rent Misc. Expenses Bills receivable Carriage outwards Insurance premium Interest Cash at hand bs Cash at bank BS Sundry debtors Adjustments BS Rs 4800 30000 Asst 13000 12000 600 3500 75000 9500 950 1000 2500 2800 24000 19000 70000 3600 1000 12500 1500 600 1000 3500 7500 33800 333650 Closing stock 36850, Factory rent unpaid 500 4. Dividend accrued but not yet received 50 Insurance premium prepaid for a quarter →600-150 Asset, 5. Commission received in advance 100 Depreciate plant and machinery @10% and furniture and fittings at 5%, Provide interest on capital@6%, Provide interest on drawings@5%, 9. Bank interest outstanding LE2 10. Write off bad debts 800 11. Provide 5% for bad and doubtful debts 2. Provide 2% for discount on debtors 13. Provide 2% for discount on creditors. 100 38800676 600 €150 60 Rs 50000 10000 20000 200 235350 600 6500 200 10800 333650
Transcribed Image Text:1. From the following trial balance prepare the final accounts Debit Balances Credit Balances Drawings Capital BS Opening stock Sundry creditors BS Bank loan@ 6% Dividend Sales Provision for bad and doubtful debts (op.bal) Bills payable BIS Commission Suspense account Furniture and fittings Printing and stationery Coal, gas and water Freight Purchases Income tax Discount allowed Repairs Factory rent Salaries and wages Manufacturing exp Advertising Plant and machinery Office rent Misc. Expenses Bills receivable Carriage outwards Insurance premium Interest Cash at hand bs Cash at bank BS Sundry debtors Adjustments BS Rs 4800 30000 Asst 13000 12000 600 3500 75000 9500 950 1000 2500 2800 24000 19000 70000 3600 1000 12500 1500 600 1000 3500 7500 33800 333650 Closing stock 36850, Factory rent unpaid 500 4. Dividend accrued but not yet received 50 Insurance premium prepaid for a quarter →600-150 Asset, 5. Commission received in advance 100 Depreciate plant and machinery @10% and furniture and fittings at 5%, Provide interest on capital@6%, Provide interest on drawings@5%, 9. Bank interest outstanding LE2 10. Write off bad debts 800 11. Provide 5% for bad and doubtful debts 2. Provide 2% for discount on debtors 13. Provide 2% for discount on creditors. 100 38800676 600 €150 60 Rs 50000 10000 20000 200 235350 600 6500 200 10800 333650
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