Shown below is Green Alpha Retailer Ltd . Trial balance for the period ended March 3 1
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Question:
Shown below is Green Alpha Retailer Ltd Trial balance for the period ended March
Items $
Dr $
Cr
Accounts
payable
Accounts receivable
Advertising expense
Bank loan
Cash
Cost of sales
Equipment
Insurance expense
Intangibles
Inventory
Other expense
Rent expense
Repairs expense
Opening retained earnings
Salaries expense
Sales
Share capital
Dividends paid
Required:
Using the above information, prepare the Statement of profit or loss and the Statement of retained earnings for Green Alpha Retailer Ltd
Use the results to answer the following questions:
a Statement of profit or loss for the year ended March
I. Gross profit
II Total expenses
III. Net Profit
b Statement of retained earnings for the year ended March
I. Retained earnings amount as at March
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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