Ledger Name Debit Balance Credit Balance Motor Car $500,000 $50,000 $450,000 $5,500,000 $250,000 $35,000 $525,000 (-)$200,000 Furniture Computers Fixed Assets Bank Balances Cash in Hand Trade Receivables Bank Overdraft Trade Payables Security Premium Share Capital Capital Reserve Rent Payable Rent Expenses Salary Payable Electricity Expenses Secured Loan Unsecured Loan Total $100,000 $2,500,000 $2,500,000 $440,100 $30,000 $110,100 $70,000 $120,000 $1,500,000 $200,000 $7,340,100 $7,340,100

Ledger Name Debit Balance Credit Balance Motor Car $500,000 $50,000 $450,000 $5,500,000 $250,000 $35,000 $525,000 (-)$200,000 Furniture Computers Fixed Assets Bank Balances Cash in Hand Trade Receivables Bank Overdraft Trade Payables Security Premium Share Capital Capital Reserve Rent Payable Rent Expenses Salary Payable Electricity Expenses Secured Loan Unsecured Loan Total $100,000 $2,500,000 $2,500,000 $440,100 $30,000 $110,100 $70,000 $120,000 $1,500,000 $200,000 $7,340,100 $7,340,100

Name: CONSTRUCT THE FOLLOWING: (a) Income Statement (b) Statement of changes
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Description: CONSTRUCT THE FOLLOWING: (a) Income Statement (b) Statement of changes in equity (c) Balance SheetPlease show COMPLETE solution Ledger NameMotor CarDebit Balance Credit Balance$500,000Furniture$50,000$450,000ComputersFixed AssetsBank BalancesCash in

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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