Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. from the following trial balance of p aka point en

From the following trial balance of P aka point Enterprises draw up a Income statement...

70.2K

Verified Solution

Question

Accounting

From the following trial balance of P aka point Enterprises draw up a Income statement for
the year ended 30 September 2023, and a statement of financial position as at that date.
(12 marks)
Dr Cr
Ksh. Ksh.
Inventory 1 October 202223,680
Carriage outwards 2,000
Carriage inwards 3,100
Returns inwards 2,050
Returns outwards 3,220
Purchases 118,740
Sales 186,000
Salaries and wages 38,620
Rent 3,040
Insurance 780
Motor expenses 6,640
Office expenses 2,160
Lighting and heating expenses 1,660
General expenses 3,140
Premises 50,000
Motor vehicles 18,000
Fixtures and fittings 3,500
Receivables 38,960

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You are a consultant to a large manufacturing corporation considering a project with the following net...

Finance
Q

You are an experimental psychologist interested in finding out how effective a new medication might work...

Chemistry
Q

The galaxy that contains our solar system, the milky way, is approximately a uniform disc of...

Physics
Q

1. All of the following are aseptic techniques to prevent contamination of food in the...

Biology
Q

In sports that require high endurance the illegal practice of blood doping involves removing some...

Biology
Q

The sex chromosomes carry genes for traits that have nothing to do with the sex...

Biology
Q

7 points Calculate the following integral using integration by parts We let u So du...

Calculus
Q

Using the information below, compute the raw materials inventory turnover: ...

Accounting
Q

paul peter is an italian citizen who is ordinarily a resident in italy. he is...

Accounting
Q

The debits to Work in ProcessAssembly Department for May, together with data concerning production, are...

Accounting
Q

Calculate the net pay. The balance before this weekly payroll is $90 below maximum as...

Accounting
Q

Jimmy and Dee Dee, both age 35, are married and filed a joint Federal income...

Accounting