Kristina Tailoring Trial Balance (extract) as at 30th June 2018 K K Interest on Loan 1300+300=1600 Loan (8% p.a due 2022) 20 000 Rent 4 200-300=3900 Accumulated Depreciation on Equipment 3750+1500=4250 Equipment 15 000 Provision for Doubtful Debts 90 Bad Debts 60 Commission 1040 Insurance 650 Accounts Receivable 2500 Rent expense +300 Interest expense +300 Additional Information as at 30th June 2018 1. Rent per month is K300 2. Interest on loan is due K300 3. Depreciation on equipment is yet to be provided K1500_(Depreciation Expense) 4. Commission received in advance K80_ Required: 1. Draw accounts to record the initial account records 2. Prepare Balance Day Adjustment for adjustments 1-4 given above.

Kristina Tailoring Trial Balance (extract) as at 30th June 2018 K K Interest on Loan 1300+300=1600 Loan (8% p.a due 2022) 20 000 Rent 4 200-300=3900 Accumulated Depreciation on Equipment 3750+1500=4250 Equipment 15 000 Provision for Doubtful Debts 90 Bad Debts 60 Commission 1040 Insurance 650 Accounts Receivable 2500 Rent expense +300 Interest expense +300 Additional Information as at 30th June 2018 1. Rent per month is K300 2. Interest on loan is due K300 3. Depreciation on equipment is yet to be provided K1500_(Depreciation Expense) 4. Commission received in advance K80_ Required: 1. Draw accounts to record the initial account records 2. Prepare Balance Day Adjustment for adjustments 1-4 given above.

From the trial balance of Ajith and the adjustments given below, prepare tradin and profit and loss A/c for the year ended 31st March 2022 and the balance shee as on that date. Debit Credit Particulars Opening stock 15,000 Capital 25,000 Furniture and fixtures 30,000 Returns outward 1,000 Purchases 40,000 Bills payable 10,000 Sales returns 2,000 Sales 1,24,000 Carriage inwards 10,000 Provision for doubtful debts 500 Office rent 23,000 Sundry debtors 20,100 Bank balance 19,600 Bad debts 900 Provision for discount on debtors 100 1,60,600 1,60,600 (a) Stock at the end of the year was ₹8,000 (b) Further bad debts amounted to ₹ 100 (c) Create 2% provision for doubtful debts on sundry debtors (d) Create 1% provision for discount on sundry debtors

You've been provided with the following Trial BalanceCalculate TOTAL ASSETSCash 25,450Accounts Receivable 25,500Inventory 85,000Prepaid Expenses 4,950Motor vehicle 68,000Equipment 155,000Accounts Payable 35,000Unearned Revenue 8,000Wages Payable 15,000Bank Loan 50,000Share Capital 235,000Retained Earnings 10,000Dividends -5,000Revenue 53,650Cost of Sales -12,450Wages Expense -15,000Interest expense -2,500Marketing expense -2,800Insurance expense -5,000

The following is Asha’s trial balance as at 31 October 2018Dr(sh) Cr(sh)Bank 4,000Capital 20,500Depreciation (1.11.2017) 3,600Drawings 10,000Electricity 2,000Furniture at cost 9,000Cuea/ACD/EXM/JANUARY – APRIL 2019/ACCOUNTING AND FINANCE Page 4ISO 9001:2008 Certified by the Kenya Bureau of StandardsInsurance 1,500Miscellaneous expenses 65,800Provision for doubtful debts (1.11.2017) 1,200Purchases 80,000Sales 150,000Stock (1.11.2017) 10,000Trade creditors 20,000Trade debtors 21,000199,300 199,300Additional information;1. Stock at 31.10.2018 sh 15,0002. At 31.10.2018 there was a specific bad debt of sh 6,000. This was to bewritten off.3. Furniture is to be depreciated at a rate of 10% per annum on cost.4. At 31 October 2018, Asha owed the electricity board sh 600, and sh 100had been paid in advance for insurance.5. The provision for doubtful debts was to be made equal to 10% of tradedebtors as at the end of the year.Required:Prepare Asha’s trading and profit and loss account for the year to 31 October2018, and a balance sheet as at that date. (20 marks)*END*Cuea/ACD/EXM/JANUARY – APRIL 2019/ACCOUNTING AND FINANCE Page 5

You've been provided with the following Trial BalanceCash           5,000Accounts Receivable           6,000Inventory           2,000Prepaid Expenses              500Property Plant Equipment         25,000Land         20,000Accounts Payable         10,000Unearned Revenue           2,500Wages Payable           3,500Bank Loan         20,000Share Capital         15,000Retained Earnings         10,000Dividends         (5,200)Revenue         15,000Cost of Sales         (6,500)Marketing Expense         (2,000)Rent Expense         (1,500)Wages Expense            (800)Utilities Expense         (1,500)Calculate GROSS PROFIT