Prepare the trial balance using the following balances as at 30.09.20xx of Rosals
business
Debtors
80 000
Fixed deposits
158 000
Creditors
60 000
Discount allowed
4 000
Purchases
250 000
Machinery
120 000
Discount received
9 000
Bank overdraft
15 000
Salaries
20 000
Capital as at 01.01.20xx 200 000
Interest income
8 000
Cash
40 000
Sales
380 000
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Explanation:
DEBIT:
Debtors = 80,000
Fixed deposits = 1,58,000
Discount allowed = 4 000
Purchases = 250 000
Machinery = 1,20,000
Salaries = 20,000
Cash = 40,000
Total 6,72,000
CREDIT:
Creditors = 60,000
Discount received = 9,000
Bank overdraft = 15,000
Capital as at 01.01.20xx = 2,00,000
Interest income = 8,000
Sales = 3,80,000
Total 6,72,000
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