Preparation of Trading, Profit And Loss Account - SS1 Accounting Past Questions and Answers - page 1
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The trial balance is drawn from the books of XYZ Ltd for the year ended 31 December 2022. Prepare a trading, profit and loss account given closing stock as ₦12,000.
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Capital Land and building Opening stock Plant and machinery Return outwards Purchases Carriage inwards Carriage outward Return inwards Discount received Wages and Salaries Debtors Creditors Cash in hand Bank Sales Discount allowed Drawings Printing and stationery |
21000 20000 60000 50000 2500 2000 4000 30000 8000 6000 5000 1500 2500 1500 313200 |
100000 3000 1200 12000 90000 313200 |
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