XYZ Trading have following data Sales per annum 11M PKRS 80% Bank and 20 % on credit
Fantastic news! We've Found the answer you've been seeking!
Question:
XYZ Trading have following data
Sales per annum 11M PKRS 80% Bank and 20 % on credit
Sales Return 500,000/-
Purchases 6000,000/- 80% Bank and 20 % on credit
Direct Labor 1200,000/- Annual
FOH 1,000,000/- Annual
Paid office Rent through cheque 1.2M in start of year
Office utilities Expense 120,000/- Annual
Administrative Salaries 50,000/- Annual
Deprecations expense on plant and Machinery 200,000/- per Annum
Capital invested through bank in start is 10M and one million invested in Plant and Machinery
Required: Pass General entries and closing entries and make Respective Ledgers
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078025662
10th edition
Authors: Ronald Hilton, David Platt
Posted Date: