Nixon Kennedy Corpration

Trial Balance as on 31 Dec 2017.

$ $
Opening stock 72,410
sales 391,400
purchase 254,810
carriage inward 760
carriage Outward 2,850
Return inward 2,110
Return outward 1,240
wages and salaries 63,400
commission 200,000
plant and equipment 7,470
Income from investment 100,000
Tools 115,650
Telephone charges 39,600
Motor expense 8,200
insurance 2,745
Rent 880
postage 392
building 125,000
debtors 38,100
creditors 26,300
Furniture 1,106
Bank 4,420
cash 112
drawings 28,600
capital 49,675
768,615 768,615

Adjustment
The closing stock is 69,404
The useful life of Plant,tools, building and furniture are 20, 15,10 and 5 years
It is feared that 20% of debtors are doubtful
The Motor Expense includes $7000 Prepaid expense
The comission includes $ 25211 unearned income
The outstanding postage expense is $2000
The outstanding income from investment is $10000
Intrest on capital is 1.5%
Roosevelt Hoover Corpration
Trial Balance as on 31 Dec 2017.
$ $
Opening stock 90,000
sales 841,500
purchase 813,500
carriage inward 5,000
carriage Outward 3,000
Return Inward 13,600
Return Outward 14,000
wages 40,000
commission 180,000
plant and equipment 150,000
Income from investment 720,400
Tools 200,000
Heating Lighting 2,000
Entertainment 3,000
insurance 1,200
Printing Charges 30,000
Office expenses 5,600
Indenting charges 30,000
Bills Payable 93,800
Salaries 6,000
building 640,000
debtors 12,000
creditors 130,000
Bill Recievable 27,000
Furniture 15,000
Bank 25,000
cash 4,000
drawings 12,000
capital 148,200
2,127,900 2,127,900

Adjustment
1 The closing stock is 70000
2 The useful life of Plant,tools, building and furniture are 20, 15,10 and 5 years
3 It is feared that 15% of debtors are doubtful
4 The Indenting charges includes $5000 Prepaid expense
5 The comission includes $ 2000 unearned income
6 The outstanding Printing charges is $3000
7 The outstanding income from investment is $15000
8 Intrest on capital is 7.5%
Rutherford Lincoln Corpration
Trial Balance as on 31 Dec 2017.
$ $
Opening stock 115,200
sales 1,975,600
purchase 813,500
carriage inward 40,800
carriage Outward 64,286
Return Inward 13,600
Return Outward 10,000
wages 169,600
commission 180,000
plant and equipment 400,000
Income from investment 120,000
Tools 200,000
Heating Lighting 96,600
Entertainment 100,714
insurance 104,900
Office postage expenses 60,000
Bills Payable 60,000
Salaries 300,000
building 640,000
debtors 290,000
creditors 126,000
Bill Recievable 27,000
Furniture 200,000
Bank 52,600
cash 10,800
drawings 12,000
capital 1,240,000
3,711,600 3,711,600

Adjustment
1 The closing stock is 36600
2 The useful life of Plant,tools, building and furniture are 20, 15,10 and 5 years
3 It is feared that 25% of debtors are doubtful
4 The inurance includes $50000 Prepaid expense
5 The comission includes $ 50,000 unearned income
6 The office postage expense is outstanding $6000
7 The outstanding income from investment is $15000
8 Intrest on capital is 5.5%