Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Prepaid Rentals Trade Creditors Total 45,000 78,235 10,350 70,650 1,620 10,800 Additional Information st i. The enterprise took out a fire insurance policy on 1 April, 2019 and paid a premium of Kshs. 1,620 for the 12 months to 31 March, 2020. 755,755 st ii. On 1 February 2019, Durango Traders entered into a rental contract and paid a year's rental Kshs. 10,800 in advance REQUIRED:- 18,000 755,755 st iii. Depreciation of Kshs. 3,375 must still be provided for the year ended 31 July 2019 on office furniture a) iv. On 31 July 2019, the trading inventory amounted to Kshs. 59,400 (at cost price) b) C) 2019 st Prepare the necessary journal entries to give effect to the adjustment at the year end. Prepare the Income Statement for the enterprise for the year ended 31 July, 2019 Prepare a balance sheet of the business at 31 July st

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
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dbm 105 fund x DBM 105.pdf
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Events
Dashboard
My Courses
This course
Joe Durango prepared the following trial balance from the accounting records of his firm, Dango
Traders.
TAKE AWAY CAT DUE SUNDAY 3 X
Sales
Sales Returns and Allowances
-
Durango Traders
Trial Balance
As at 31.7.2019
Purchases
Purchases Returns and Allowances
Freight-in
Advertisement
Salaries
Administrative Expenses
Stationery and Printing
Office Equipment at Cost
Accumulated Depreciation: Office
Equipment
Capital: J.Durango 1/8/2018
Drawings: J.Durango
Cash
Trade Debtors
Trading Inventory 1/8/2018
Prepaid Insurance
Dr.(Kshs) Cr.(Kshs)
675,000
2,250
436,500
11,700
2,250
52,200
3.150
4.050
27,000
45,000
78,235
10,350
70,650
1,620
3,150
10,125
49.480
CAT-LDP 109: FUNDAMENTALS x +
X
hp
W
Transcribed Image Text:dbm 105 fund x DBM 105.pdf Home Question Z Not yet answered tps://eclass.uonbi.ac.ke/mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1 Marked out of 10.00 Flag question IO X Events Dashboard My Courses This course Joe Durango prepared the following trial balance from the accounting records of his firm, Dango Traders. TAKE AWAY CAT DUE SUNDAY 3 X Sales Sales Returns and Allowances - Durango Traders Trial Balance As at 31.7.2019 Purchases Purchases Returns and Allowances Freight-in Advertisement Salaries Administrative Expenses Stationery and Printing Office Equipment at Cost Accumulated Depreciation: Office Equipment Capital: J.Durango 1/8/2018 Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Dr.(Kshs) Cr.(Kshs) 675,000 2,250 436,500 11,700 2,250 52,200 3.150 4.050 27,000 45,000 78,235 10,350 70,650 1,620 3,150 10,125 49.480 CAT-LDP 109: FUNDAMENTALS x + X hp W
DEM 105.pdf
Dashboard
/mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1
Drawings: J.Durango
Cash
Trade Debtors
Trading Inventory 1/8/2018
Prepaid Insurance
Prepaid Rentals
Trade Creditors
Total
X
Events
REQUIRED:-
TAKE AWAY CAT DUE SUNDAY 3 X
a)
b)
C)
2019
My Courses
45,000
78,235
10,350
70,650
1,620
10,800
755,755
Additional Information
st
i. The enterprise took out a fire insurance policy on 1 April, 2019 and paid a premium of Kshs. 1,620
for the 12 months to 31 March, 2020.
st
ii. On 1 February 2019, Durango Traders entered into a rental contract and paid a year's rental Kshs.
10,800 in advance
--
This course
st
iii. Depreciation of Kshs. 3,375 must still be provided for the year ended 31 July 2019 on office
furniture
18,000
755,755
iv. On 31 July 2019, the trading inventory amounted to Kshs. 59,400 (at cost price)
CAT-LDP 109: FUNDAMENTALS
R
Prepare the necessary journal entries to give effect to the adjustment at the year end.
Prepare the Income Statement for the enterprise for the year ended 31st July, 2019
Prepare a balance sheet of the business at 31 July
x
Transcribed Image Text:DEM 105.pdf Dashboard /mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1 Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Prepaid Rentals Trade Creditors Total X Events REQUIRED:- TAKE AWAY CAT DUE SUNDAY 3 X a) b) C) 2019 My Courses 45,000 78,235 10,350 70,650 1,620 10,800 755,755 Additional Information st i. The enterprise took out a fire insurance policy on 1 April, 2019 and paid a premium of Kshs. 1,620 for the 12 months to 31 March, 2020. st ii. On 1 February 2019, Durango Traders entered into a rental contract and paid a year's rental Kshs. 10,800 in advance -- This course st iii. Depreciation of Kshs. 3,375 must still be provided for the year ended 31 July 2019 on office furniture 18,000 755,755 iv. On 31 July 2019, the trading inventory amounted to Kshs. 59,400 (at cost price) CAT-LDP 109: FUNDAMENTALS R Prepare the necessary journal entries to give effect to the adjustment at the year end. Prepare the Income Statement for the enterprise for the year ended 31st July, 2019 Prepare a balance sheet of the business at 31 July x
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