Question 6.From the following Trial Balance of the ABC Company, prepare the (a) Tradingand Profit & Loss Account (b) Balance Sheet(20)Rs.Rs.СapitalPlant & MachineryFurniture & Fixtures57,50023,5007,5008,70018,25010,560Opening StockCash in bankCash in handAccount Payable10,000Purchases39,200Sales63,8501,610Sunday CreditorsSundry DebtorsWagesDrawingsReturn inward4,1503,9201,5002506,0001,500240RentAdvertisingSalariesMics. ExpensesPostage ExpensesCarriage InwardFreight OutwardDiscount Received1,5001905001,000500Motor Vehicle8,000Bank Loan3,000136,460136,460Additional Information:• Closing Stock 7,400Depreciate Plant & Machinery at 15%, Furniture & Fixtures at 15% and MotorVehicle at 10%.

Financial statements are the reports which shows the company's assets, liabilities, equity, income…

Question 6. From the following Trial Balance of the ABC Company, prepare the (a) Trading and Profit & Loss Account (b) Balance Sheet (20) Rs. Rs. Capital Plant & Machinery Furniture & Fixtures 57,500 23,500 7,500 8,700 18,250 10,560 Opening Stock Cash in bank Cash in hand O 000

Question 6. From the following Trial Balance of the ABC Company, prepare the (a) Trading and Profit & Loss Account (b) Balance Sheet (20) Rs. Rs. Capital Plant & Machinery Furniture & Fixtures 57,500 23,500 7,500 8,700 18,250 10,560 Opening Stock Cash in bank Cash in hand O 000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.17E: Financial statements Each of the following items is shown in the financial statements of ExxonMobil...

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