THE FOLLOWING IS A TRIAL BALANCE EXTRACTED FROM WASIKE TRADERS IN THE MONTH OF DECEMBER 2015. WASIKKE CHEMIST TRIAL BALANCE AS AT 31ST DECEMBER 2015 DR CR Kshs. Kshs. CAPITAL 1,234, 600 SALES 64,000 PURCHASES 380,000 CARRIAGE INWARDS 20,000 DEBTORS 63,000 CREDITORS 48,000 STOCK (1st JAN 2016) 86,000 CARRIAGE OUT WARDS 18,000 PURCHASES RETURNS 30,000 SALES RETURNS 25,000 RENT INCOME 35,000 PREMISES 450,000 FURNITURE 250,000 M/V 550,000 ONE YEAR BANK LOAN 200,000 SALARIES 80,000 GENERAL EXPENSES 120,000 DISCOUNTS ALLOWED 14,800 DISCOUNTS RECEIVED 12,000 ELECTRICITY 16,500 CASH AT HAND 10,000 CASH AT BANK 15,500 DRAWINGS 100,000 _________ 2,200,0002,200,000 ======== ======== Required: Prepare Wasike Trading, Profit and Loss Account .?
THE FOLLOWING IS A
WASIKKE CHEMIST
TRIAL BALANCE
AS AT 31ST DECEMBER 2015
DR CR
Kshs. Kshs.
CAPITAL 1,234, 600
SALES 64,000
PURCHASES 380,000
CARRIAGE INWARDS 20,000
DEBTORS 63,000
CREDITORS 48,000
STOCK (1st JAN 2016) 86,000
CARRIAGE OUT WARDS 18,000
PURCHASES RETURNS 30,000
SALES RETURNS 25,000
RENT INCOME 35,000
PREMISES 450,000
FURNITURE 250,000
M/V 550,000
ONE YEAR BANK LOAN 200,000
SALARIES 80,000
GENERAL EXPENSES 120,000
DISCOUNTS ALLOWED 14,800
DISCOUNTS RECEIVED 12,000
ELECTRICITY 16,500
CASH AT HAND 10,000
CASH AT BANK 15,500
DRAWINGS 100,000 _________
2,200,0002,200,000
======== ========
Required: Prepare Wasike Trading,
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