Question

6. The following transactions were extracted from the books of Ramos for the year ended 31st December 2022: Capital 600,000; Electricity 8,400; Wages 184,900; Debtors 358,000; Salesmen commission 14,700; Sundry creditors 103,700; Plant and Machinery 102,700; Returns outwards 64,000; Drawings 24,800; Cash at bank 52,600; Purchases 10,600; Insurance 19,900; Returns inwards 12,500; Furniture 164,000; Stock (01/01/2022) 800,000; Sales 200,000; Land and building 13,200; Discount received 40,900; Bills payable 30,000; Carriage inwards 37,400; Bank charges 9,900; Cash-in-hand 8,000; Rent received 4,300; Salaries 43,000; Bills receivable 17,700; Rates 8,400. You are required to prepare a Trial Balance as at 31st December 2022.

Accepted Answer

Trial Balance as at 31st December 2022 (Dr / Cr): Capital -- Cr 600,000. Electricity -- Dr 8,400. Wages -- Dr 184,900. Debtors -- Dr 358,000. Salesmen commission -- Dr 14,700. Sundry creditors -- Cr 103,700. Plant and machinery -- Dr 102,700. Returns outward -- Cr 64,000. Drawings -- Dr 24,800. Cash at Bank -- Dr 52,600. Purchases -- Dr 10,600. Insurance -- Dr 19,900. Returns inward -- Dr 12,500. Furniture -- Dr 164,000. Stock (01/01/2022) -- Dr 800,000. Sales -- Cr 200,000. Land and building -- Dr 13,200. Discount received -- Cr 40,900. Bills payable -- Cr 30,000. Carriage inwards -- Dr 37,400. Bank charges -- Dr 9,900. Cash-in-hand -- Dr 8,000. Rent received -- Cr 4,300. Salaries -- Dr 43,000. Bills receivable -- Dr 17,700. Rates -- Dr 8,400. (Note: figures are reproduced as given in the source.)

WAEC Book Keeping 2024 Theory — Question 6

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