Trial balance of a period, Establish the SPL. RE. and SFP for the period, then determine...

 

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Trial balance of a period, Establish the SPL. RE. and SFP for the period, then determine the Net profit for the period: Trial balance of a period Debit 31,000 Account name Purchase of inventory Account payables Capital Cash in hand Transport expenses Motor vehicle Sales revenue Drawing Administrative expense Account receivables Cash at bank Total 12,000 9,540 32,000 24,000 10,500 9,500 8,500 137,040 Deatermine the Net profit for the period: Credit 6,500 35,540 95,000 137,040 Trial balance of a period, Establish the SPL. RE. and SFP for the period, then determine the Net profit for the period: Trial balance of a period Debit 31,000 Account name Purchase of inventory Account payables Capital Cash in hand Transport expenses Motor vehicle Sales revenue Drawing Administrative expense Account receivables Cash at bank Total 12,000 9,540 32,000 24,000 10,500 9,500 8,500 137,040 Deatermine the Net profit for the period: Credit 6,500 35,540 95,000 137,040

Answer rating: 100% (QA)

SOLUTION To determine the net profit for the period we need to calculate the total revenue and the t... View the full answer