Final Exam $-$ Answer Sheet

Basic Bookkeeping $-$ Level $2$

NE Company

Balance Sheet

As at January $31,2005$

$\backslash$table$[[$ASSETS$],[],[$Current Assets$],[$Cash and Bank,$$,3,215],[$Accounts Receivable,,$51,236],[$Inventory$,128,610,102,235],[$Prepaid Expenses,,$3,200],[,159,886],[$Capital Assets$],[$Land$,,250,000],[$Buildings$,,150,000],[$Equipment$,,165,776],[$Automotive$,,23,900],[,589,676],[$Accumulated Depreciation,,$78,006],[,511,670],[$$$,$$$671,556],[$LIABILITIES & OWNER'S EQUITY$],[$Current Liabilities$],[$Bank Loans Payable,$$,$$ $30,000],[$Accounts Payable and Accrued Expenses,,$36,583],[$Current Portion of Long$-$Term Debt,$10,000,22,000],[,88,583],[$Long$-$Term Liabilities$],[$Long$-$Term Debt,,$215,500],[$Owner$\text{'}$s Equity$],[$Sally Gosling, Capital at January $31,,367,473],[$$$,$$ $671,556]]$

$\backslash$table$[[\backslash$table$[[$NE Company$],[$FINAL TRIAL BALANCE, JANUARY $31,2005],[$GENERAL LEDGER$]]],[$Account Name,$\backslash$table$[[$G$/$L Account$],[$Number$]],$Debit,Credit$],[$Balance forward,,$905,418\mathrm{.}61,909,165\mathrm{.}61$