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After Going through the following Adjusted Trail Balance, you are required to prepare the Income...

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Accounting

After Going through the following Adjusted Trail Balance, you are required to prepare the Income Statement and also prepare the Balance Sheet

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ABC & Co. Trial balance For the Month of July 2019,(All figures in $) Adjustments Dr. Cr S.NO Ref Dr. Cr Adjusted Trial Balance Dr. Cr 6250 3500 6250 3500 10000 10000 1000 1500 2000 1000 1350 150 2000 400 400 50 50 100 100 100 800 100 800 5000 5000 100 100 Particulars Cash (C.A-B/S) Bank (C.A-B/S) Capital (O.E B/S) Land FA-B/S) Machinery/F.A-B/S) Purchases.Exo.S) A/P(Lia B/S) Carriage(Q.ER-I.SI Electricity expense(Op. Exp IS) Advertising Exp (Op. Expl.) Salary(Op. Exp I.S) Sales (Revenue 1) Purchases return Less from Purchases is) Sales return Less from Sales LS) wages/R.exr-.S) Wages Payable(Lia B/S A/R(C.A-B/S) Fee revenue Revenue I.S) Rent{Exp-I.S) Prepaid Rent/C.A-B/S) Unearned revenue Less Lia B/S) Revenue(Revenue-1.5) Depreciation Exp-IS) Ass.Depreciatino Less F.A B/S) Bad Debts[Expl.S) totals 200 200 500 500 500 500 300 300 300 300 200 200 200 200 400 400 100 100 150 150 100 100 15500 15500 1450 1450 16800 1680

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