Preparation of Cash/Bank Account, Share Premium Account, Share Discount Account, Share Capital Accounts - SS2 Accounting Past Questions and Answers - page 1
1
Question:
The following transactions were gathered from the trial balance for LIMICO Ltd. for the year ended December 2022. You are required to prepare:
-
cash/bank account
-
share premium account
-
share discount account
-
share capital accounts;
-
preference shares account
-
Ordinary share capital account.
TRIAL BALANCE OF LIMICO SOAP Ltd. FOR THE YEAR ENED DECEMBER, 2022
|
Account Name |
Debit (₦) |
Credit (₦) |
|
Cash |
20,000 |
|
|
Bank |
50,000 |
|
|
Sales |
100,000 |
|
|
Rent Expense |
5,000 |
|
|
Salaries Expense |
15,000 |
|
|
Supplies |
2,000 |
|
|
Advertising Expense |
3,000 |
|
|
Utilities Expense |
4,000 |
|
|
Total |
99,000 |
100,000 |
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