1.An inexperienced book-keeper has drawn up an Incorrect and Unadjusted Trial Balance, You are required...
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Accounting
1.An inexperienced book-keeper has drawn up an Incorrect and Unadjusted Trial Balance, You are required to Correct Trial Balance, Pass Adjusting Entries and then prepare Adjusted Trial Balance:
:
Adjustments:
1. Salary Payable on December 31, 2016 is Rs. 1,500
2. Depreciation on Furniture charged to 10% by cost method
3. Inventory on hand on December is Rs. 60,000
4. 30,000 of Sales Account is unearned
S. No 2 3 7 Wasim Mutharik (P.) LM Incorrect. Unadjusted Trial Balance ds on 3?" December, 2016 Amount (Rs.) Heads of Accounts Ref Debit Credit Purchases Retum 13,000 Machinery 34,000 Salaries 17200 Creditors 33.000 Cash in hand 40,000 Carriage Inward 6.000 Rent Received 3.000 Discount Allowed 2.000 Purchases 100.000 Bill Payable 20,000 Debtors 15,000 Carriage Outward 5.000 Owner Equity 53,200 Building 18,000 Sales Retur 3.000 Discount Received 14.000 Insurance Expenses 6.000 Sales 130.000 Furniture 20,000 Suspense Account 8.000 9 10 11 12 14 15 16 17 18 19 20 Total Rs. 270,200 Rs. 270,200
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