ANSWER REQUIRED. ON A TIMER.

(10) Question - 2 The following is the trial balance of Shah Latif & Co. on March 31, 2011 Cash Rs.20,000 Accounts Payable Accounts Receivable Rs. 50,000 Salaries Payable Merchandise inventory Rs. 60,000 Bank loan Equipment Rs. 40,000 Capital Rs. 30,000 Rs. 15,000 Rs. 25,000 Rs. 100,000 The following transactions were performed during first fortnight of April: Apr 05 Paid outstanding salaries 06 Collected 1/2 of accounts receivable. 07 Sold merchandise for cash Rs.20,000 and on account Rs.30,000 10 Paid 1/3 of the accounts payable. Made additional investment depositing cash into the bank Rs. 25,000 14 Required a. Prepare the ledgers with opening balances on April 01. b. Prepare Trial balance (08) (02)