Question 1 The Following Balances were taken from the Books of Smith Trader as of 28th...

  

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Question 1 The Following Balances were taken from the Books of Smith Trader as of 28th February 2022. Balances Capital Opening Stock Debtors Machinery Cash Investments Sales Purchases Creditors Land Purchase Return Sales Return Wages Amount (s) Transactions 4 $500,000.00 $50,000.00 $200,000.00 $100,000.00 $50,000.00 $100,000.00 $450,000.00 $300,000.00 $50,000.00 $200,000.00 $10,000.00 $6,000.00 $4,000.00 During the month of March 2022, the following Transactions were Recorded: Amount ($) $160.000.00 From the following balances extracted from the books of Mr. XYZ prepare Trial Balance as on 31st March, 2022. Closing Stock $10,000 Cash in hand $14,200 Outstanding Expenses $4,400 Prepaid Expenses $1,400 Accrued Income $3,000 Cash at Bank $16,800. Bills Receivable$ 28,000 Bills payable $36,000 Sundry debtors $54,600 Sundry creditors$ 62,400 Capital $1,60,000 Drawings Computers$ 28,000. Sales$2,05,000 Purchases $1,75,000 Carriage Inward $2,700 Salaries $12,000 Advertisement $2,400 Insurance $1,600 Furniture $7,500 Onnninn Cinak 010 200. Question 1 The Following Balances were taken from the Books of Smith Trader as of 28th February 2022. Balances Capital Opening Stock Debtors Machinery Cash Investments Sales Purchases Creditors Land Purchase Return Sales Return Wages Amount (s) Transactions 4 $500,000.00 $50,000.00 $200,000.00 $100,000.00 $50,000.00 $100,000.00 $450,000.00 $300,000.00 $50,000.00 $200,000.00 $10,000.00 $6,000.00 $4,000.00 During the month of March 2022, the following Transactions were Recorded: Amount ($) $160.000.00 From the following balances extracted from the books of Mr. XYZ prepare Trial Balance as on 31st March, 2022. Closing Stock $10,000 Cash in hand $14,200 Outstanding Expenses $4,400 Prepaid Expenses $1,400 Accrued Income $3,000 Cash at Bank $16,800. Bills Receivable$ 28,000 Bills payable $36,000 Sundry debtors $54,600 Sundry creditors$ 62,400 Capital $1,60,000 Drawings Computers$ 28,000. Sales$2,05,000 Purchases $1,75,000 Carriage Inward $2,700 Salaries $12,000 Advertisement $2,400 Insurance $1,600 Furniture $7,500 Onnninn Cinak 010 200.

Answer rating: 100% (QA)

Here is a Trial Balance as of March 31 2022 based on the provided balances ... View the full answer