Table of ContentsMAIN BODY...................................................................................................................................1B) Journal entries required to deal with additional information ............................................1c) Statement of profit and loss and statement of balance sheet for Flanagan’s fashion store forthe year ended 31 October 2018.............................................................................................4REFERENCES................................................................................................................................6
MAIN BODYB) Journal entries required to deal with additional information Journal entries Particular Dr CrCash A/c dr23000To equipment a/c 23000Depreciation expense A/c Dr 104250To accumulated depreciation equipment A/c104250Depreciation expense A/c Dr17000To Accumulated depreciation on building 17000Drawing A/c Dr 18000To inventory A/c18000prepaid insurance A/c Dr12000To insurance expense A/c 12000Light and heat expense A/c Dr 16000To light and heat payable A/c16000bad debts expense A/c Dr 12000To allowance for bad debts A/c 8000To Account receivable A/c 4000Incorrect entry purchase A/c Dr 26000To receivable A/c 26000correct entry purchase A/c Dr 26000To supplier A/c 260001
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Financial Accounting and Auditlg...
|8
|1722
|100
Accounting Fundamentalslg...
|17
|3038
|46
Essay on Accounting: Formulation of Trial Balance and Financial Statementslg...