Trial Balance of Mr. Anas | Apple seller
Mr. Anas is renowned business man. He is known for his red & juicy apples. He has a great credit standing in the native market.
Recently Mr. Anas is planning to open branches of his Apple shops around the city.
For this purpose he has applied for loan. However, the Bank asked him to obtain his trial balance. He wants to appoint you as his accountant to draft a trial balance with the following data:
- Sales 8,000,000
- Cash in Hand 100,000
- Bank 5,000,000
- Shop 5,000,000
- Land 2,000,000
- Debtors 1,900,000
- Prepaid Advertising 500,000
- Refrigerators 1,500,000
- Opening stock 2,000,000
- Salary expense 1,200,000
- Heat & lightning 200,000
- Advertising expense 600,000
- Creditors 3,000,000
- Capital 9,000,000
- Useful life of shop is 10 years, depreciation is charged on SLM. While 10% by Reducing balance method for refrigerators
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