ASSIGNMENT ONE. (DUE DATE: 29/04/22) The following balances were extracted from the books of Chanda at 31/12/19 K Buildi
Posted: Mon May 02, 2022 7:12 am
ASSIGNMENT ONE. (DUE DATE: 29/04/22)
The following balances were extracted from the books of Chanda
at 31/12/19
K
Buildings at
cost
240,000
Plant at
cost
160,000
Accumulated Depreciation a 01/01/19
Purchases
500,000
Sales
808,800
Inventory at
01/01/19
100,000
Discounts
allowed
36,000
Discounts
Received
9,600
Returns
inwards
4,400
Returns
outwards
30,000
Wages and
salaries
117,600
Bad debts written
off
9,200
Other
expenses
45,600
Trade
Receivables
76,000
Trade
Payables
72,000
10%
Loan
20,000
Cash
3,200
Drawings
48,000
Provision for doubtful
debts
1,000
Opening
capital
?
Additional information
Required:
The following balances were extracted from the books of Chanda
at 31/12/19
K
Buildings at
cost
240,000
Plant at
cost
160,000
Accumulated Depreciation a 01/01/19
Purchases
500,000
Sales
808,800
Inventory at
01/01/19
100,000
Discounts
allowed
36,000
Discounts
Received
9,600
Returns
inwards
4,400
Returns
outwards
30,000
Wages and
salaries
117,600
Bad debts written
off
9,200
Other
expenses
45,600
Trade
Receivables
76,000
Trade
Payables
72,000
10%
Loan
20,000
Cash
3,200
Drawings
48,000
Provision for doubtful
debts
1,000
Opening
capital
?
Additional information
Required: