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Question Of Assaignment On Financial Statement Preparation

1740 words - 7 pages

Assignment 2
Dear all,
Please solve the following problems and submit it on or before 30 November, 2012.

Question.1 : As on December 31, 2001 the end of annual accounting period, the trial balance of the ledger of Mahmud Store are as follows:
MAHMUD STORE
TRIAL BALANCE
DECEMBER 31, 2001

Sl. No. | Name of Accounting | Debit Tk. | Credit Tk. |
1 | Cash | 90,000 | |
2 | Accounts Receivable | 166,000 | |
3 | Merchandise inventory | 300,000 | |
4 | Purchase | 3,310,000 | |
5 | Prepaid Insurance | 38,000 | |
6 | Store Equipment | 800,000 | |
7 | Accumulated D/P – Store Equipment | | 170,000 |
8 | Accounts Payable | | 190,000 |
9 | Mahmud – Capital | | ...view middle of the document...

(iii) Balance Sheet.

Question.2
OVERNIGHT AUTO SERVICE
Trial Balance As At December 31, 2009

Balance Sheet Accounts: Dr. Cr. |
Tk. Tk. |
|
Cash 18,592 |
Accounts Receivable 6,500 |
Shop Supplies 1,800 |
Unexpired Insurance 4,500 |
Land 52,000 |
Building 36,000 |
Accumulated Depreciation: Building 1,500 |
Tools and Equipment 12,000 |
Accumulated Depreciation: Tools and Equipment 2,000 |
Notes Payable 4,000 |
Accounts Payable 2,690 |
Income Tax Payable 1,560 |
Unearned Rent Revenue 9,000 |
Capital Stock 80,000 |
Retained Earnings 0 |
Dividends 14,000 |
Income Statement Accounts: |
Repair Service Revenue 171,250 |
Advertising Expense 3,900 |
Wages Expense ...

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