Prepare it into balance sheet

Accounting

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To prepare the balance sheet, we first need to calculate the closing balances for all assets, liabilities, and capital by adjusting the opening balances with the transactions that occurred during October.

Step 1: Calculate the closing balance for each account.

  • Cash:
    • Opening Balance: Ksh 100,000
    • Oct 1 (Additional capital): +Ksh 30,000
    • Oct 6 (Drawings): -Ksh 8,000
    • Oct 7 (Ali paid): +Ksh 5,000
    • Oct 8 (Rent paid): -Ksh 4,000
    • Oct 9 (Salaries
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