Sole Trader Final Accounts:G Musandu Trial Balance Question

////Sole Trader Final Accounts:G Musandu Trial Balance Question

Sole Trader Final Accounts:G Musandu Trial Balance Question

Trial balance. image credit vpg.lt

Trial balance. image credit vpg.lt

ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

From the following trial balance of G Musandu, draw up a trading and profit and loss account for the year ended 30 September 20X9, and a balance sheet as at that date.

G Musandu

Trial Balance as at 30 September 20×8

 DRCR
$$
Stock 1 October 20x841600
Carriage outwards2100
Returns Inwards3700
Carriage inwards1540
Returns outwards3410
Purchases188430
380400
Salaries and wages61400
Warehouse rent3700
Insurance1356
Motor expenses1910
Office expenses412
Lighting and heating expenses894
General expenses245
Premises92000
Motor vehicles13400
Fixtures and Fitting1900
Debtors42560
Creditors31600
Cash at Bank5106
Drawings22000
Capital68843

484253

484253

The Trading and Profit and Loss Account solution is found here

The Balance Sheet solution is found here

To access more topics go to the Principles of Accounts Notes.

By |2017-01-17T11:14:42+00:00March 7th, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|Comments Off on Sole Trader Final Accounts:G Musandu Trial Balance Question

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He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.
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