The following trial balance was extracted from Vumilia traders as 31 st December 2006

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The following trial balance was extracted from Vumilia traders as 31^st December 2006

Dr Cr

Capital 125,000

Purchases 45,000

Carriage on sales 2,000

Stock 25,000

Sales 120,000

Carriage on purchases 1,200

Insurance 5,900

Salaries 12,450

Discount allowed/ Discount received 3,400 1,950

Debtors/creditors 25,000 15,500

Bank 14,500

Machinery 128,000

262,450 262,450

Additional information:

-closing stock 25,000

-Outstanding salaries 450

-Insurance 900 has been paid in advance

-Depreciate machinery by 10% on cost

Required: i) trading, profit and loss a/c

ii) Balance sheet

Related Book For answer-question

Introduction To Financial Accounting

ISBN: 978-0077138448

7th edition

Authors: Anne Marie Ward, Andrew Thomas

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Posted Date: May 02, 2024 09:45 AM

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The following trial balance was extracted from Vumilia traders as 31 st December 2006

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Introduction To Financial Accounting

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