Preparation of Shares Accounts, Application Account, Allotment Account, And Calls Accounts - SS2 Accounting Past Questions and Answers - page 1
1
Question:
The following transactions were gathered from the trial balance for HAPPY SOAP Ltd. for the year ended December, 2022. You are required to prepare:
-
Shares Accounts
-
Application Account
-
Allotment Account
-
Calls Accounts.
TRIAL BALANCE OF HAPPY SOAP Ltd. FOR THE YEAR ENED DECEMBER, 2022
|
Account Name |
Debit (₦) |
Credit (₦) |
|
Cash |
25,000 |
|
|
Accounts Receivable |
15,000 |
|
|
Inventory |
10,000 |
|
|
Prepaid Rent |
5,000 |
|
|
Equipment |
50,000 |
|
|
Accounts Payable |
20,000 |
|
|
Wages Payable |
8,000 |
|
|
Capital |
50,000 |
|
|
Sales Revenue |
30,000 |
|
|
Cost of Goods Sold |
15,000 |
|
|
Rent Expense |
5,000 |
|
|
Wages Expense |
12,000 |
|
|
Utilities Expense |
2,000 |
|
|
Advertising Expense |
1,000 |
|
|
Total |
148,000 |
148,000 |
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