The following balances were taken from the ledgers of Drake's Auto Parts Ltd on September 30,...

 

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The following balances were taken from the ledgers of Drake's Auto Parts Ltd on September 30, 2018: 2400 Sales retunts Purchases retums Opening inventory Sales 1300 11 600 170 000 90 600 Purchases Salaries Motor vehicle Equipment Miscellaneous expenses Bank overdraft 35 000 60 000 22 000 12 000 25 000 2 200 1 700 33 000 50-000 90 000 Carriage inwards Carriage outwards- Accounts receivable Accounts payable Bank savings account Provision for bad debts Bad debts Cush in hand 3 000 1-500 4 000 20-000 2000 5.000 Long term loan Commission received Commission paid Rent 15 000 Required: Prepare the Trial balance for Drake's Auto Parts Ltd. including appropriate heading and the amount for capital. A. B. Distinguish between revenues and expenses, giving examples of each. The following balances were taken from the ledgers of Drake's Auto Parts Ltd on September 30, 2018: 2400 Sales retunts Purchases retums Opening inventory Sales 1300 11 600 170 000 90 600 Purchases Salaries Motor vehicle Equipment Miscellaneous expenses Bank overdraft 35 000 60 000 22 000 12 000 25 000 2 200 1 700 33 000 50-000 90 000 Carriage inwards Carriage outwards- Accounts receivable Accounts payable Bank savings account Provision for bad debts Bad debts Cush in hand 3 000 1-500 4 000 20-000 2000 5.000 Long term loan Commission received Commission paid Rent 15 000 Required: Prepare the Trial balance for Drake's Auto Parts Ltd. including appropriate heading and the amount for capital. A. B. Distinguish between revenues and expenses, giving examples of each.

Answer rating: 100% (QA)

Trial balance Credit Account Cash in hand Bank savin... View the full answer