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Question - From the following list of balances, prepare a trial balance as at 31 December 2020 for Arusha James.
Plant and Machinery 21,450
Motor Vehicles 26,000
Premises 80,000
Wages 42,840
Purchases 119,856
Sales 179,744
Rent Received 3,360
Telephone, printing and stationery 3,600
Accounts Payable 27,200
Accounts Receivable 30,440
Bank Overdraft 2,216
Capital ?
Drawings 10,680
General Expenses 3,584
Lighting and heating 2,960
Motor Expenses 2,360
Inventory (1 January 2020) 9,000
Discount Received 7000
Returns Inwards 8,500
Interest Received 20,000
Returns outwards 3,200
Commission Received 5300
Cash in hand 12,000
Taxes Expense 6,000
Inventory (31 December 2020) 15,000
Required - Prepare a Trial Balance as at 31 December 2020 for Arusha James.
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