each question) S The following is the trial balance 1. Leng as at 30 September 2020...

  

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each question) S The following is the trial balance 1. Leng as at 30 September 2020 Capital Drawings Loan from A. Mak Cash Bank overdraft Sales Purchases Returns Inwards Returns outwards Carriage inwards Carriage outwards Trade debtors Trade creditors Land and buildings Plant and machinery Listed investments Interest paid Interest received Rent received Inventory Repairs to buildings Plant hire charges Bank charges Further information: 1. The inventory at 30 September 2020 was valued at $4,580 2. The loan from A.Mak is repuyable on 1 January 2027 Debit 3 1,200 510 29,300 3,800 960 820 7,190 26,000 13.500 4.800 1.200 3,720 810 360 240 98.610 Credi 5 32.890 10,000 1,720 45,600 2,700 4,620 450 630 98619 You are required to prepare the income statement for the period ended 30 September 2020 and the statement of financial position as at that danc each question) S The following is the trial balance 1. Leng as at 30 September 2020 Capital Drawings Loan from A. Mak Cash Bank overdraft Sales Purchases Returns Inwards Returns outwards Carriage inwards Carriage outwards Trade debtors Trade creditors Land and buildings Plant and machinery Listed investments Interest paid Interest received Rent received Inventory Repairs to buildings Plant hire charges Bank charges Further information: 1. The inventory at 30 September 2020 was valued at $4,580 2. The loan from A.Mak is repuyable on 1 January 2027 Debit 3 1,200 510 29,300 3,800 960 820 7,190 26,000 13.500 4.800 1.200 3,720 810 360 240 98.610 Credi 5 32.890 10,000 1,720 45,600 2,700 4,620 450 630 98619 You are required to prepare the income statement for the period ended 30 September 2020 and the statement of financial position as at that danc

Answer rating: 100% (QA)

1 Net Sales SalesReturns Inwards 456003800 41800 2 Cost of Goods Sold COGS Net Purchases PurchasesReturns Outwards 293002700 26600 Net Cost of Goods S... View the full answer