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Lecture 17

This document provides the details of a class lecture and homework assignment on accounting basics. The class lecture discussed opening and brought down balances using a simple example. For homework, students were asked to draft a trading and profit and loss account for the year ended September 30, 20X8 and a balance sheet as of that date using the trial balance provided, including various financial accounts and balances. The stock amount as of September 30, 20X8 was also given.

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Ahmad Hasnain
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52 views1 page

Lecture 17

This document provides the details of a class lecture and homework assignment on accounting basics. The class lecture discussed opening and brought down balances using a simple example. For homework, students were asked to draft a trading and profit and loss account for the year ended September 30, 20X8 and a balance sheet as of that date using the trial balance provided, including various financial accounts and balances. The stock amount as of September 30, 20X8 was also given.

Uploaded by

Ahmad Hasnain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CAF-01 Introduction to accounting Basics of accounting

Lecture 17

Classwork:
Discussion of opening / brought down balances using a simple class example.

Homework:

(Q. 5.12 of RISE book) F Brown drew up the following trial balance as at 30 September 20X8. You are to
draft the trading and profit and loss account for the year ended 30 September 20X8 and a balance sheet as
at that date.

Capital 49,675
Drawings 28,600
Cash at bank 4,420
Cash in hand 112
Debtors 38,100
Creditors 26,300
Stock 30 September 20X7 72,410
Van 5,650
Office equipment 7,470
Sales 391,400
Purchases 254,810
Returns inwards 2,110
Carriage inwards 760
Returns outwards 1,240
Carriage outwards 2,850
Motor expenses 1,490
Rent 8.200
Telephone charges 680
Wages and salaries 39,600
Insurance 745
Office expenses 392
Sundry expenses 216
468,615 468,615
Stock at 30 September 20X8 was Rs.89,404.

Umair Sheraz Utra, ACA Page |1

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