AdmasUni versi

ty
KalitCampus
Coll
egeofBusi nessandEconomi cs
DepartmentofAccount i
ngandfinance
Uni
tofcompetence:Est
abli
shandmai nt
ainanaccrual
account
ing
system
Trai
nername:MrNi gusA.
Generali
nstruct
ion
➢I t
’sagr oupassignmentandt hegroupmembermustbel essthan6( mandat
ory
)
➢ don’tplagi
ari
zef rom ot hersorplagiar
ism i
sstr
ictl
yprohi
bit
ed
➢ Don’tforgett
owr i
t eyourname, IDNumber ,Secti
onandotherdetail
sonthecover
page.
➢ Submi tyourassignmenti nHardCopy .SoftCopyisnotacceptabl
e.
➢ Weight15%
➢ Thereisnopagel imi t
ationorrestr
icti
on.
➢ Deadlinetosubmi ttheassignmenti sJune26,2023(sene19,2015EC. )

Task1
Thetri
albal
anceofXYZFashi
onCent ercont
ainedthefol
lowi
ngaccountsatDecember
31,t
heendofthecompany’
sfi
scalyear.
XYZFASHI ONCENTER
TRI ALBALANCE
DECEMBER31, 2015
ACCOUNTS DEBIT CREDIT

Cash Br28,
700

Accountr
ecei
vabl
e 33,
700

I
nvent
ory 45,
000

Suppl
i
es 5,
500

Equi
pment 133,
000

Accumul
ateddepr
eci
ati
on Br
24,
000

Not
espay
abl
e 51,
000

Account
sPay
abl
e 48,
500

Shar
eCapi
tal
—Or
dinar
y 90,
000

Ret
ainedEar
nings 8,
000
Sal
esRev
enue 757,
200

Sal
esRet
urnsandAl
l
owances 4,
200

CostofGoodsSol
d 495,
400

Sal
ari
esandWagesExpense 140,
000

Adv
ert
isi
ngExpense 26,
400

Ut
il
it
iesExpense 14,
000

Mai
ntenanceandRepai
rsExpense 12,
100

Del
i
ver
yExpense 16,
700

RentExpense 24,
000

Tot
als Br978,
000 Br987,
700

Adjustmentdat a:
1. Suppl i
esonhandt otaledBr1,500.
2. Depr eciati
oni sBr 15,000ont heequipment .
3. I nterestofBr 11,000i saccr uedonnot espay abl
eatDecember31.
Otherdat a:
1. Sal ariesandwagesexpensei s70%sel lingand30%admi nist
rati
ve.
2. Rentexpenseandut i
li
tiesexpensear e80%sel l
ingand20%admi ni
str
ati
ve.
3. Br 30,000ofnot espay ablear edueforpay mentnexty ear.
4. Mai ntenanceandr epairsexpensei s100%admi nist
rati
ve.
I
nstructions
1. Jour nali
zetheadj ustingent r
ies.
2. Pr epar eanadj ustedt ri
albalance.
3. Pr epar eani ncomest atementandr etainedearningsstatementfortheyearanda
classifi
edst atementoff i
nancialposit
ionasofDecember31, 2015.
4. Jour nali
zethecl osi ngent r
ies.
5. Pr epar eapost -
closingt ri
albalance