ExampleThe table below shows transactions from Mr. Situmbeko's businessfor the year ended 31st December, 2016. Prepare a trading andprofit and loss account for the year ended 31st December 2016.Prepare also a balance sheet as at December 2016. Stock at 31stDecember 2016 was K12.408.SalesPurchasesSalariesMotor expensesRentInsuranceGeneral expensesPremisesMotor vehiclesDebtorsCreditorsCash at bankCash in handDrawingsCapitalK190,576119,83256,5272,4161,8943728595,42016,59426,74016,52416,5193428,425138,066

Trading and Profit and Loss account will give us the Net profit Earned by the Business for a…

The table below shows transactions from Mr. Situmbeko's busin for the year ended 31st December, 2016. Prepare a trading and profit and loss account for the year ended 31st December 201 Prepare also a balance sheet as at December 2016. Stock at 31 December 2016 was K12,408. Sales Purchases Salaries Motor expenses Rent Insurance General expenses Premises Motor vehicles Debtors Creditors Cash at bank Cash in hand Drawings Capital K 190,576 119,832 56,527 2,416 1,894 372 85 95,420 16,594 26,740 16,524 16,519 342 8,425 138,066

The table below shows transactions from Mr. Situmbeko's busin for the year ended 31st December, 2016. Prepare a trading and profit and loss account for the year ended 31st December 201 Prepare also a balance sheet as at December 2016. Stock at 31 December 2016 was K12,408. Sales Purchases Salaries Motor expenses Rent Insurance General expenses Premises Motor vehicles Debtors Creditors Cash at bank Cash in hand Drawings Capital K 190,576 119,832 56,527 2,416 1,894 372 85 95,420 16,594 26,740 16,524 16,519 342 8,425 138,066

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 19E: The stockholders equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2016, are...

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