The following balances are extracted from the books of Ms. Maria Wampa, Prepare Trial Balance as...

 

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The following balances are extracted from the books of Ms. Maria Wampa, Prepare Trial Balance as on 30.6.2015 Owners equity K470,200 Cash in hand K6,000 Stock K33,000 Insurance K3,300 Sales K290,000 Telephone K6,450 Purchases K165,000 Account receivable K48,000 Salaries K70,600 Discount allowed K 650 Drawings K5,000 Bills payable K6,000 Machinery K158,800 Repairs K5,400 Building K32,000 Account payable K26,000 Commission K750 Furniture K11,000 Discount earned K1,100 K51,000 loan Reserve fund K5,900 Receivables K8,600 Bad debts K1,350 Rent and rate K6,300 The following balances are extracted from the books of Ms. Maria Wampa, Prepare Trial Balance as on 30.6.2015 Owners equity K470,200 Cash in hand K6,000 Stock K33,000 Insurance K3,300 Sales K290,000 Telephone K6,450 Purchases K165,000 Account receivable K48,000 Salaries K70,600 Discount allowed K 650 Drawings K5,000 Bills payable K6,000 Machinery K158,800 Repairs K5,400 Building K32,000 Account payable K26,000 Commission K750 Furniture K11,000 Discount earned K1,100 K51,000 loan Reserve fund K5,900 Receivables K8,600 Bad debts K1,350 Rent and rate K6,300

Answer rating: 100% (QA)

Lets prepare the trial balance using the given account balances Trial Balance as of 3062... View the full answer