Answer to Question #179452 in Accounting for Samantha

Question

Balance b/d 40,000 Payments to suppliers 492,020 Cash sales 170,000 Cash purchases 32,500 Receipts from debtors 458,560 Rent 57,500 Motor vehicle 300,000 Fixtures 220,000 Bank interest 2,500 Rates 8,500 Commission 73,000 Wages 66,000 Balance c/d 53,960 General office expenses 11,500 Loan 78,000 Drawings 132,000 1,098,020 1,098,020 List of balances: Details Jan 1 Dec 31 Creditors 83,200 91,030 Debtors 94,500 82,400 Stock 75,500 95,600 Loan 194,000 116,000 Building 340,000 340,000 Motor vehicle 720,000 400,000 Fixtures 0 210,000 Rates prepaid 4,600 7,600 Commission owing 21,500 25,000 Wages owing 14,500 22,000 Additional notes: ▪ Stock taken for personal use amounted to $9,500 ▪ Amounts written off as bad debts totaled $8,500 ▪ Discounts given to credit customers amounted to $3,400 ▪ The motor vehicle sale was at net book value. derive the trial balance, statement of profit or loss, and statement of financial position.

Answer 1

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