UNICAF $1 Million Worth of Scholarships for a British Master's Degree - Apply Now
Be a Mathematics guru - Start your online lessons today!

The following were extracted from books of bonjuri, a retailer 31st march 2014 Dr. Cr...

The following were extracted from books of bonjuri, a retailer 31st march 2014
Dr. Cr
Capital​ 100,000
​drawings. 50,000
Cash in hand ​ 1,000
Debtors and creditors 70,000
Insurance ​ 2,500
Purchases/​sales. 535,000. 700,000
Stock 1st April 2013 ​ 50,000
Electricity ​ 2,000
General expenses ​ 13,000
Equipment at cost. 15,000 ​
Provision for depreciation
Of Equipment 1st April2013 ​ 3,000
Wages and salaries. 30,000
Rent 20,000
(807,000) (807,000)
Additional information
(1)Stock on 31st march 2014 was valued at 60,000
(2)At 31st march 2014=1,500 was outstanding on Insurance, Electricity was prepaid by 500 and there was a doubtful debt of 1,000
(3)Depreciation is to be provided on Equipment at 10% on cost you are required to prepare :
a.Trading, profit and loss account for the year ended 31st march 2014
b.Balance sheet as at that date.?

UNICAF $1 Million Worth of Scholarships for a British Master's Degree - Apply Now
Project Materials - Get & download your project material
To get notifications when anyone posts a new answer to this question,
Follow New Answers

Post an Answer

Please don't post or ask to join a "Group" or "Whatsapp Group" as a comment. It will be deleted. To join or start a group, please click here

{{ quote.posted_by.display_name }}
{{ settings.form_textarea_description }}
WAEC GCE Prep - Download past questions mobile app
Project Materials - Get & download your project material

Answers ({{ comment_count }})

Please wait...

{{ settings.no_comment_msg ? settings.no_comment_msg : 'There are no comments' }}
Ask Your Own Question

Quick Questions

See More Accounting Questions
 
Project Materials - Get & download your project material
UNICAF $1 Million Worth of Scholarships for a British Master's Degree - Apply Now
Be a Mathematics guru - Start your online lessons today!
WAEC GCE Prep - Download past questions mobile app