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trading profit & loss, Accounting Basics
trial balance as at may 31 19*6
sales return 5000
purchases return 6200
openingstock jan 100000
provisionfor bad debt 800
shop fittings at cost 40000
van at cost 30000
debtors&creditors 9800 7000
bad debts 200
bank balance 3000
1. closing stock at dec 19*7 120000
2. accrued wages 5000
3. rates prepaid 500
4. the provision for bad debts to be increased to 10 per cent of debtors
5. telephone account outstanding 220
6. depreciate shop fittings at 10 per cent per annum,and van at 20 per cent per annum on cost.
Posted Date: 10/27/2012 4:22:26 PM | Location : United States
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