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  • Trial Balance

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    Jaden Zephyr
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    Zimran owns a grocery supermarket. The trial balance on September 30, 2012 shows revenues of $214,900, expenses including purchases of $131,800, wages of $39,750, and other operating costs. Inventory was valued at $13,700 at year end, and wages and insurance had accrued expenses.

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    Bloop

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    Trial balance

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    Zimran owns a grocery supermarket. The trial balance on September 30, 2012 shows revenues of $214,900, expenses including purchases of $131,800, wages of $39,750, and other operating costs. Inventory was valued at $13,700 at year end, and wages and insurance had accrued expenses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    4 views1 page

    Trial Balance

    Uploaded by

    Jaden Zephyr
    Zimran owns a grocery supermarket. The trial balance on September 30, 2012 shows revenues of $214,900, expenses including purchases of $131,800, wages of $39,750, and other operating costs. Inventory was valued at $13,700 at year end, and wages and insurance had accrued expenses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Zimran owns a grocery supermarket. On 30 September 2012 the following trial balance was extracted.

    Dr Cr
    $ $
    Bad debts 420
    Capital 182,160
    Cash at bank 4,870
    Discounts allowed 510
    Discount received 730
    Drawings 31,300
    Electricity charges 5,980
    Furniture and equipment cost 20,000
    Insurance 2,050
    Inventory 1 October 2011 11,420
    Purchases 131,800
    Rent received 4,300
    Revenue (sales) 214,900
    Shop premises cost 150,000
    Trade payables 8410
    Trade receivables 12,400
    Wages 39,750
    410,500 10,500

    Additional information

    1 Inventory was valued t $13,700

    2 Wages were accrued $720

    3 Insurance was prepaid $390

    4 Rent received was due $250

    Required

     Prepare the income statement for the year ended 30 September 2012
     Balance sheet as at 30 September 2012

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