Iasb Framework Essay

970 Words Nov 13th, 2012 4 Pages
Q1. COSTELLO ADVERTISING AGENCY. | Trial Balance | November 30,2011 | Account Titles | Debit | Credit | Cash | 11,000.00 | | Accounts receivable | 20,000.00 | | Office supplies | 8,600.00 | | Prepaid Rent | 1,600.00 | | Unexpired Insurance | 3,350.00 | | Equipment | 60,000.00 | | Accumulated Depreciation: Equip | | 28,000.00 | Accounts Payable | | 5,000.00 | Interest payable | | 400 | Unearned Advertising fee | | 7,200.00 | Notes Payable | | 8,000.00 | Salaries payable | | - | Capital Stock | | 30,000.00 | Retained Earnings | | 10,000.00 | Dividends | 4,000.00 | | Advertising Revenue | | …show more content…
7) The year end provision for warranty claims has been estimated at Rs. 75,000. Warranty costs are charged to

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