Prepare a trial balance and balance sheet

Assignment Help Accounting Basics

Reference no: EM132915908

Question

Q.1 xyz company provides transportation between major airports in various business centers.

Transactions during the month of April 2013 are as below:

1. On April 3rd the owner deposited $ 80,000/- into the business bank account.

2 On April 5th paid $ 3520/- rent for hangar space.

3. On April 10th placed advertisement in local newspaper for publication during April.

the month.

The agreed price of $ 4000/- was payable within ten days after the end of the month.

4. On April 14th cash receipts from passengers for the first half of April amounted to $ 23160/-.

5. On April 17th, paid salaries to employees for services rendered in first half of April, $. 18200/-.

6. On April 20th, provided transportation for Executives of ABC Corporation a bill of $ 4700/-.

Was Sent payable within 30 days.

7. On April 22nd, paid $ 14000/- for Repair and Maintenance Work during aprail.

8. On April 25th, received a bill for fuel used in April amounting to $ 12000/- and

Payable by May 10th.

9. On April 28th, the owner withdrew $ 2000/-cash for Personal use.

Instruction:

d. prepare a Trial Balance on April 30th 2013 in proper order

e. Prepare income statement for April, 2013

f. Prepare Balance Sheet on April 30th 2013 in account format

Reference no: EM132915908

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