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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

Finance

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

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