Question 3
|
The following is a list of balances for Century for the period ended 30 April 2019. P |
|
|
Capital |
162,000 |
|
Vehicle at cost |
180,000 |
|
Equipment at cost |
120,000 |
|
Accumulated depreciation on: vehicles |
90,000 |
|
Equipment 38,000 |
|
|
Inventory |
70,000 |
|
Trade receivables |
32,000 |
|
Bank |
59,000 |
|
Cash |
39,000 |
|
Trade payables |
40,000 |
|
Loan |
80,000 |
|
Sales |
485,000 |
|
Cost of sales |
240,000 |
|
Sales returns |
5,000 |
|
Salaries and wages |
84,000 |
|
Rent |
28,000 |
|
Motor expenses |
15,000 |
|
Telephone |
7,000 |
|
Electricity and water |
11,000 |
|
Insurance |
4,000 |
|
Interest on loan |
6,000 |
|
Commission income |
5,000 |
REQUIRED:
Prepare the trial balance of Century for the year ended 30 April 2019.
Question 3
|
The following is a list of balances for Century for the period ended 30 April 2019. P |
|
|
Capital |
162,000 |
|
Vehicle at cost |
180,000 |
|
Equipment at cost |
120,000 |
|
Accumulated depreciation on: vehicles |
90,000 |
|
Equipment 38,000 |
|
|
Inventory |
70,000 |
|
Trade receivables |
32,000 |
|
Bank |
59,000 |
|
Cash |
39,000 |
|
Trade payables |
40,000 |
|
Loan |
80,000 |
|
Sales |
485,000 |
|
Cost of sales |
240,000 |
|
Sales returns |
5,000 |
|
Salaries and wages |
84,000 |
|
Rent |
28,000 |
|
Motor expenses |
15,000 |
|
Telephone |
7,000 |
|
Electricity and water |
11,000 |
|
Insurance |
4,000 |
|
Interest on loan |
6,000 |
|
Commission income |
5,000 |
REQUIRED:
Prepare the trial balance of Century for the year ended 30 April 2019.
Answer:
| Century |
| Trial Balance |
| For the year ended April 30, 2019 |
| Particulars | Debit | Credit |
| Capital | 162,000 | |
| Vehicle at cost | 180,000 | |
| Equipment at cost | 120,000 | |
| Accumulated depreciation on the vehicle | 90,000 | |
| Accumulated depreciation on equipment | 38,000 | |
| Inventory | 70,000 | |
| Trade receivables | 32,000 | |
| Bank | 59,000 | |
| Cash | 39,000 | |
| Trade payables | 40,000 | |
| Loan | 80,000 | |
| Sales | 485,000 | |
| Cost of sales | 240,000 | |
| Sales returns | 5,000 | |
| Salaries & wages | 84,000 | |
| Rent | 28,000 | |
| Motor expenses | 15,000 | |
| Telephone | 7,000 | |
| Electricity and water | 11,000 | |
| Insurance | 4,000 | |
| Interest on loan | 6,000 | |
| Commission income | 5,000 | |
| 900,000 | 900,000 |
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