Prepare the Balance Sheet at 31 March 2004 for Tikolo from the trial balance given in $7.8
Question:
Prepare the Balance Sheet at 31 March 2004 for Tikolo from the trial balance given in $7.8 (additional exercise 2).
Data from Additional Exercises 2
The trial balance extracted from Tikolo's books at 31 March 2004 is as follows.
During the year, Tikolo had taken goods costing $2000 for his own use. This had not been recorded in the books. Stock at 31 March 2004 cost $20 000.
Transcribed Image Text:
Account Sales Sales Returns Purchases Purchases Returns Stock at 1 April 2003 Carriage Inwards Carriage Outwards Discounts Received Discounts Allowed Wages Rent Heating and Lighting Sundry Expenses Fixtures and Fittings Office Furniture Trade debtors Trade creditors Bank Drawings Capital 3 600 120 000 18.000 5.000 3 724 5 020 36 800 8 000 6 450 was 1 143 SAN 9 000 2.000 1970 2 496 20 527 243 730 in $ 204 000 4 440 MARISA 316 3 160 2 130 30 000 243 730
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (4 reviews)
Tikolo Trading Profit and Loss Account As at 31 March 2004 Sales 204000 less sales returns 3600 Net ...View the full answer
Answered By
David Njeri
I am a professional tutor with seven years of experience in tutoring, editing, proofreading, and research in diverse fields. I have tutored students daily to help them understand new concepts and acquire knowledge in their area of specialization. Therefore, my learners have achieved their education and corporate goals since they pass exams with excellent grades and exhibit professionalism in their fields. I am self-motivated and willing to offer the best for the success of learners I tutor daily. I can work under pressure to deliver desirable results both in the short-term and long-term. I can also deliver high-quality research to ensure my learners score high marks. In addition, I can use my expertise to develop innovations in learning which will help learners understand the concepts clearly. Moreover, I do my best to ensure my company achieves the best results and prioritize the integrity of both the company and learners.
Thank you for considering me!
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Prepare a Balance Sheet at 31 March 2004 for Perkins from the trial balance given in exercise 3 . Data from Exercises 3 The following trial balance has been extracted from the books of Perkins, a...
-
The trial balance extracted from Tikolo's books at 31 March 2004 is as follows. During the year, Tikolo had taken goods costing $2000 for his own use. This had not been recorded in the books. Stock...
-
Desmond's trial balance at 31 March 2004 was as follows. Further information 1. Stock at 31 March 2004 was valued at $11 000. 2. Expenses owing at 31 March 2004 were: rent payable $2000; carriage...
-
Caine Bottling Corporation is considering the purchase of a new bottling machine. The machine would cost $200,000 and has an estimated useful life of 8 years with zero salvage value . Management...
-
Target Company's most recent contribution format income statement is presented below: Sales.....................................................$75,000 Variable...
-
A book publisher monitors the size of shipments of its textbooks to university bookstores. For a sample of texts used at various schools, the 95% confidence interval for the size of the shipment was...
-
Adamson and Baker formed a partnership by investing \($220\) 000 and \($180\) 000 respectively. The partnership had a final profit of \($92\) 000 in the first year. Required a. Prepare the journal...
-
A pharmaceutical company manufactures two drugs at Los Angeles and Indianapolis. The cost of manufacturing a pound of each drug depends on the location, as indicated in the file S13_42.xlsx. The...
-
(d) Define Floating-point representation, Truncation error, and Global error with examples.
-
The following information has been extracted from a Balance Sheet at 31 December 2003. What was the balance on Capital account at 31 December 2003? A. $300 000 B. $320 000 C. $340 000 D. $350 000...
-
The owner of a business has taken goods for his own use but no entry has been made in the books to record this. What is the effect of this on the Balance Sheet? Stock A no effect B no effect C...
-
College students and surfers Rex Robinson and Sandy Hudson collected data on the self-reported numbers of days surfed in a month for 30 longboard surfers and 30 shortboard surfers. Longboard: 4, 9,...
-
How concurrent employment polarization may impact the decision-making process of Millennials entering the labor market. In doing so, discuss how one of the "cool" new cities for Millennials is...
-
Discuss the two signs suggestive of long-term structural problems and the cost of persistent unemployment from the Great Recession. In doing so, discuss how the automation of routine task activities...
-
What type of costs do you perceive that Advocate Trinity Hospital will incur due to hospital-acquired conditions? Explain.
-
What role do conspiracy theories play in the spread of right-wing extremism ?
-
If an object in uniform circular motion at a radius r , and a velocity v , has a centripetal acceleration of 2 0 m / s ^ 2 . What will the acceleration be if the velocity becomes 2 X as big. ( v > >...
-
Population: 3, 6, 10, 12, 14 Find the population variance and standard deviation or the sample variance and standard deviation as indicated.
-
Find the APR in each of the following cases: NUMBER OF TIMES COMPOUNDED Semiannually Monthly Weekly Infinite EAR APR 10.4% 8.9 11.6 15.4
-
Discuss how slower population growth will affect businesses in your local community.
-
Discuss the impact of changes in the size and use of technology in the 1829 age group on marketing strategy planning in the United States.
-
Name three specific examples of firms that developed a marketing mix to appeal to senior citizens.
-
Dantzler Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFS) during the next 3 years, after which FCF is expected to grow at a constant 4%...
-
1. Explain and illustrate how might a nation's production possibilities be affected by the following? Each case independently. a. Wide-spread epidemic, like COVID pandemic. b. An increase in...
-
"ISC" stands for "IS Curve", "MPC" stands for "MP Curve", "PC" stands for "Phillips Curve" and "OLC" stands for "Okun's Law Curve". You are now describing the policy response (monetary of fiscal) and...
Study smarter with the SolutionInn App