Consider the following transactions for April month1. Acquisitions of merchandise inventory on account Rs245002. Sales for cash Rs181253. Payment to creditors Rs14500 (further to transaction (a))4. Sales on account Rs190005. Advertising in newspapers, paid in cash, Rs15006. Cost of goods sold Rs200007. Collections on account Rs165758. Miscellaneous expenses paid in cash Rs40009. Wages paid in cash Rs450010. Recognize rent expenses Rs100011. Depreciation of store equipment, Rs125a. PART A: Prepare a ledger account for the month ended April 2020.b. PART B: Prepare a trail balance for the month ended April 2020 The balance sheet account of Tata limited had the following balances on April 1, 2020, the beginning of a fiscal yearTata limitedBalance SheetAccounts April 1,2020CashAccountsreceivatileMachandiseinventaryPropaidrentStareequipmetAcamulateddepreciation stareequipmentAccountspayablePaid-in capitalRetainedeamingsRs 13001260038900200010500Rs28752250015,00024925

The ledger accounts are prepared as posting of journal entry to their specific accounts and thereof…

1. Acquisitions of merchandise inventory on account Rs24500 2. Sales for cash Rs18125 B. Payment to creditors Rs14500 (further to transaction (a)) 1. Sales on account Rs19000 . Advertising in newspapers, paid in cash, Rs1500 Cost of goods sold Rs20000 - Collections on account Rs16575 Miscellaneous expenses paid in cash Rs4000 Wages paid in cash Rs4500 Recognize rent expenses Rs1000

1. Acquisitions of merchandise inventory on account Rs24500 2. Sales for cash Rs18125 B. Payment to creditors Rs14500 (further to transaction (a)) 1. Sales on account Rs19000 . Advertising in newspapers, paid in cash, Rs1500 Cost of goods sold Rs20000 - Collections on account Rs16575 Miscellaneous expenses paid in cash Rs4000 Wages paid in cash Rs4500 Recognize rent expenses Rs1000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...

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