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Homework answers / question archive / QUESTION THREE The following is the trial balance of KSmooth as at 31 March 2002
QUESTION THREE
The following is the trial balance of KSmooth as at 31 March 2002. Draw up a set of final accounts for the year ended 31 March 2002.show your working
| Dr | Cr | |
| £ | £ | |
| Stock 1 April 2001 | 1,816,000 | |
| Sales | 9,234,000 | |
| Purchases | 6,918,500 | |
| Carriage inwards | 42,000 | |
| Carriage outwards | 157,000 | |
| Returns outwards | 64,000 | |
| Wages and salaries | 1,024,000 | |
| Rent and rates | 301,500 | |
| Communication expenses | 62,400 | |
| Commissions payable | 21,600 | |
| Insurance | 40,500 | |
| Sundry expenses | 31,800 | |
| Buildings | 2,000,000 | |
| Debtors | 1,432,000 | |
| Creditors | 816,000 | |
| Fixtures | 285,000 | |
| Cash at bank | 297,000 | |
| Cash in hand | 11,500 | |
| Drawings | 762,000 | |
| Capital | 152,028 | 5,088,800 |
| 152,028 |
Trial Balance:-
| Dr | Cr | |
| £ | £ | |
| Stock 1 April 2001 | 1,816,000 | |
| Sales | 9,234,000 | |
| Purchases | 6,918,500 | |
| Carriage inwards | 42,000 | |
| Carriage outwards | 157,000 | |
| Returns outwards | 64,000 | |
| Wages and salaries | 1,024,000 | |
| Rent and rates | 301,500 | |
| Communication expenses | 62,400 | |
| Commissions payable | 21,600 | |
| Insurance | 40,500 | |
| Sundry expenses | 31,800 | |
| Buildings | 2,000,000 | |
| Debtors | 1,432,000 | |
| Creditors | 816,000 | |
| Fixtures | 285,000 | |
| Cash at bank | 297,000 | |
| Cash in hand | 11,500 | |
| Drawings | 762,000 | |
| Capital | 5,088,800 | |
| Total | 15,202,800 | 15,202,800 |
