18020418
Unadjusted trial balance
Dr
Cr
Dr
Land
Cash
Opening inventory
Equipment
Purchases
Unearned revenue
debtors
Acc dep.
Bank
creditors
Telephone payable
Capital
Withdrawals
Revenue
Motor car depreciation
Equipment depreciation
Insurance expense
salaries expense
wages expense
rent expense
motor cars expense
electricity expense
postage and telephone expense
discount Dr
general charges
repair expenses
advertising expense
7760
50000
20000
400
50000
21000
10000
10000
10000
1000
5024
110000
35000
1000
34000
6000
10000
600000
1024
4000
10000
12000
40000
9000
10240
6000
3000
11400
4000
9600
9000
269000
1000
1000
400
669000
Adjustments
Cr
100000
Cr
400
400
Discount allowed
Sundry debtors
1000
1024
Equipment depreciation
4000
1000
1024
137424
137424
Anusha naeem
18020418
Accumulated depreciation
Drawings
Purchases
Telephone expense
telephone payable
4000
10000
10000
1000
1000
Bank
Lohan & co (unearned revenue)
10000
insurance
bank
10000
land
loan
10000
10000
100000
100000
Anusha naeem
18020418
Dr
Anusha naeem
18020418
Anusha naeem
18020418
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
1 Description
machinery
purchases
machinery
accounts payable
purchases
accounts payable
Dr
2 Description
cash
sales revenue
cash
sales revenue
cash
sales revenue
Dr
3 Description
general expenses
Cash
Intangible assets(License expense)
Cash
general expenses
Intangible assets(License expense)
4 Description
cash
sales
sales return
account payable
cash
account payable
Dr
5 Description
cash
purchases
purchase returns
account receivable
purchases
account receivable
Dr
6 Description
Rent expense
Rental revenue
Rent expense
Rental revenue
Rent expense
Dr
Cr
56000
56000
56000
56000
56000
56000
Cr
175000
175000
157000
157000
18000
18000
Cr
30000
30000
30000
30000
30000
30000
Dr
Cr
100000
100000
100000
100000
100000
100000
Cr
550000
550000
550000
550000
550000
550000
Cr
59000
59000
95000
95000
36000
Anusha naeem
18020418
Rental revenue
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
incorrect entry
correct entry
correcting entry
7 Description
sales
Paul rudd limited
Accounts receivable
Paul rudd limited
sales
accounts receivable
8 Description
van
interest payable
Interest expense
Interest payable
van
Interest expense
9 Description
cash
capital
cash
account payable
capital
account payable
10 Description
Purchase return
Cash
correct entry
Sales return
Cash
correcting entry
Purchase return
Sales return
incorrect entry
36000
Dr
Cr
19200
19200
19200
19200
19200
19200
Dr
Cr
40000
40000
40000
40000
40000
40000
Dr
Cr
2000000
2000000
2000000
2000000
2000000
2000000
Dr
Cr
21600
21600
21600
21600
21600
21600
Anusha naeem
18020418
Balance sheet
Non current assets
Land
Equipment
less depreciation
Motor car
less depreciation
Current assets
Closing stock
Debtors
Prepaid insurance
Bank
Cash
Current liabilities
Creditors
Lohan & co
Accrued bills
Equity
Capital
Withdrawals
long term loan
Net profit
100000
20000
-4000
10240
-1024
125216
75000
49000
10000
21000
7360
162360
35000
10000
1000
46000
34000
-16000
100000
123576
241576
Anusha naeem
18020418
Income statement
Revenue
motor car expense
insurance expense
salaries
wages
rent
postal and telephone
Discount allowed
General charges
Repairs
Electricity
Advertising
Motor car depreciation
Equipment depreciation
600000
10240
10000
12000
40000
9000
4000
12400
4000
10000
6000
9000
1024
4000
Anusha naeem
18020418
Statement of retained earnings
Retained earnings
Net income
Less withdrawals/dividends
Retained earnings
123576
16000
107576