Sunday, September 25, 2011

Sole Propietorship

Solution from Exercise 1 - B



 ShehGarLynn's Dress Shop
Trial Balance
For the Month Ended January 31, 2007


Cash in Bank (BOA)...............................................$40,000.00

Petty Cash .............................................................        443.00

Accounts Receivable..............................................       7,000.00

Prepaid Rent .........................................................       9,000.00


 Accounts Payable...................................................                                  5,000.00

Shehla's Capital ......................................................                                 50,000.00

Sales ......................................................................                                   7,500.00

Sales Return and Allowances ..................................         500.00

Purchases...............................................................       5,000.00

Cleaning Expenses .................................................          215.00

General Expenses ..................................................             30.00

Delivery & Shipping Expenses ...............................              12.00                                

Total......................................................................     $62,500.00            $62,500.00






























































































































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