The balance sheet account of Tata limited had the following balances on April 1, 2020, the...
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The balance sheet account of Tata limited had the following balances on April 1, 2020, the beginning of a fiscal year Tata limited Balance Sheet Accounts, April 1, 2020 Cash Accountsreceivable Merchandiseinventory Prepaidrent Stareequipment Accumulateddepreciation store equipment Accountspayable Paid-in capital Retainedeamings Rs 1300 12600 38900 2000 10500 Rs 2875 22500 15,000 24925 Consider the following transactions for April month 1. Acquisitions of merchandise inventory on account Rs24500 2. Sales for cash Rs18125 3. Payment to creditors Rs14500 (further to transaction (a)) 4. Sales on account Rs19000 5. Advertising in newspapers, paid in cash, Rs1500 6. Cost of goods sold Rs20000 7. Collections on account Rs16575 8. Miscellaneous expenses paid in cash Rs4000 9. Wages paid in cash Rs4500 10. Recognize rent expenses Rs1000 11. Depreciation of store equipment, Rs125 a. PART A: Prepare a ledger account for the month ended April 2020. [8] b. PART B: Prepare a trail balance for the month ended April 2020 [8] The balance sheet account of Tata limited had the following balances on April 1, 2020, the beginning of a fiscal year Tata limited Balance Sheet Accounts, April 1, 2020 Cash Accountsreceivable Merchandiseinventory Prepaidrent Stareequipment Accumulateddepreciation store equipment Accountspayable Paid-in capital Retainedeamings Rs 1300 12600 38900 2000 10500 Rs 2875 22500 15,000 24925 Consider the following transactions for April month 1. Acquisitions of merchandise inventory on account Rs24500 2. Sales for cash Rs18125 3. Payment to creditors Rs14500 (further to transaction (a)) 4. Sales on account Rs19000 5. Advertising in newspapers, paid in cash, Rs1500 6. Cost of goods sold Rs20000 7. Collections on account Rs16575 8. Miscellaneous expenses paid in cash Rs4000 9. Wages paid in cash Rs4500 10. Recognize rent expenses Rs1000 11. Depreciation of store equipment, Rs125 a. PART A: Prepare a ledger account for the month ended April 2020. [8] b. PART B: Prepare a trail balance for the month ended April 2020 [8]
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