Answer to Question #244755 in Economics for susan

Question

 

THE BOATYARD LIMITED

DRAFT TRIAL BALANCE AT 31 DECEMBER 20X6

 

Debit

Credit

Ordinary share capital

 

2,000,000

Retained earnings

 

1,592,500

Land: Cost

5,000,000

 

Office equipment: Cost

1,100,000

 

Office equipment: Accumulated depreciation

 

550,000

Motor Vehicles: Cost

2,000,000

 

Motor Vehicle: Accumulated depreciation

 

800,000

Accounts receivable

675,000

 

Inventory

2,225,000

 

Cash and Bank

1,477,500

 

Borrowings

 

5,600,000

Accounts payable

 

760,000

Sales

 

9,125,000

Cost of Sales

5,475,000

 

Salaries expense

905,000

 

Bad debts expense

62,500

 

Marketing Expense

100,000

 

Depreciation: Motor vehicles

400,000

 

Depreciation: Office equipment

275,000

 

Repairs and maintenance

30,000

 

Travel expense

82,500

Answer 1

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