From the account balances of C Byron (shown in figure 9.66), write next to each account name
Question:
From the account balances of C Byron (shown in figure 9.66), write next to each account name the account/statement and group abbreviations. Then, using this information, you are required to:
• prepare an income statement, and
• prepare a balance sheet.
Transcribed Image Text:
Account Balances of C Byron as at 30 June 2022 Accounts Payable Control Accounts Receivable Control Advertising Bad Debts Expense Bank Overdraft Capital Cartage Outwards Cost of Sales Debt Collection Expenses Discount Allowed Discount Received Electricity GST Receivable GST Payable Insurance Interest on Overdraft Inventory Legal Expenses Office Cleaning Office Expenses Office Salaries Premises Rates and Taxes Rent Received Repairs and Maintenance Sales Sales Commission Sales Salaries Travellers' Expenses 2574 10 835 1293 294 3104 27 255 1178 32 570 175 185 281 1522 1 067 2728 254 819 3104 328 1605 2181 18 776 47480 1653 2798 1 168 109 117 3878 15815 1 677
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Based on the account balances provided here are the accountstatement and group abbreviations for each account 1 Accounts Payable Control APC 2574 2 Ac...View the full answer
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Related Book For
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
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