Lee, a sole trader, provided the following information from his books of account on 30 April 2019. $ Bank overdraft 11 240 Capital 50 000 Carriage inwards 670 Drawings 24 060 Inventory at 1 May 2018 12 500 3% Loan 20 000 Loan interest 50 Motor vehicles Cost Provision for depreciation 32 000 8 000 Office equipment Cost Provision for depreciation 4 600 2 400 Other operating costs 61 990 Provision for doubtful debts at 1 May 2018 2 850 Purchases 97 370 Revenue 165 000 Trade receivables 47 890 Trade payables 21 640 The following information is also available. 1 An invoice from a supplier dated 28 April 2019 for goods costing $940 had not been recorded in the books of account. These goods were unsold at the year-end. 2 Inventory was counted at 30 April 2019 and was valued at cost, $21 340. 3 Revenue included goods sold in April 2019 to a credit customer for $3200 on a sale or return basis. These goods were invoiced with a mark-up of 60% and were returned by customer on 5 May 2019. 4 During the year, Lee took goods with a cost of $250 for his own use. 5 The 3% loan was taken out on 1 August 2018 and is repayable in 5 annual instalments starting on 1 August 2019. 6 A debt of $690 was considered to be irrecoverable and was to be written off. 7 The provision for doubtful debts was to be maintained at 5% of the trade receivables. 8 A computer for office use bought on credit on 1 July 2018 costing $1200 had been debited to the purchases account. 9 Depreciation is to be provided as follows: Motor vehicles 25% per annum using the reducing balance method Office equipment 10% per annum using the straight-line method A full year’s depreciation is charged in the year of purchase.

The following trial balance was extracted from the books of Kamau’s a soletrader as at 31/12/2017.DEBITSHSCREDITSHSFurniture 12,000Motor Vehicle 20,000Bank loan 20,000Debtors 39,000Stock 1/1/2017 14,000Sales 96,000Discount Allowed 3,500Advertising expenses 1,800Insurance expenses 4,000Return Inwards 6,000Salaries Expenses 2,800Electricity expenses 2,000Purchases 38,000Rent Income 12,000Carriage inwards 5,000Return outwards 3,000Discount received 4,500Dividend income 7,000Creditors 16,000Drawings 4,000Cash 15,000Capital 8,600167,100 167,100Additional Information:Value of closing stock shs.5,000Bad debts to be written off shs.1,500Prepaid insurance expenses was shs.2,500Unpaid electricity bill as at 31/12/2017 was shs.1,000.Rent income received in advance was shs.4,000Dividend income receivable was shs.3,000Required:i) Prepare a Trading and profit and loss account for the year ended31/12/2017

Cash BookCr2019$2019$1-JunBalance b/d4,2305-JunR. Red5407-JunP. Ryan18612-JunJ. Rebus1,55716-JunG. Grey22516-JunY. Yale12328-JunJ. Jim67229-JunBlister Disco6630-JunT. Fling1,74630-JunBalance c/d4,7737,0597,059 Bank StatementJune 2019DrCrBalance$$$1Balance b/d4,2307Cheque1864,4165R. Red5403,87616Cheque2254,10117J. Rebus1,5572,54418Y. Yale1232,42128Cheque6723,09329SLM standing order1562,93730G.Rice: trader's credit1923,12930Bank charges1293,000 As the accountant, you have been asked to do the following:a.     Prepare an updated cashbook for the monthb.     Prepare a bank reconciliation statement for the month

The following details relate to Albert EnterpriseDebtors a/cbalance debitBad debts to bewritten offProvision fordoubtful debts31/12/2017 Shs100,000 Shs 8,000 10% of theremaining debtors31/12/2018 Shs 74,000 Shs10,000 8% of theremaining debtorsRequired :For each of the year ended 31/12/2017 and 31/12/2018, open the following ledgeraccounts and make the necessary adjustments in respect of bad debts and provision fordoubtful debts. Balance off the accounts.i)Debtors a/cii)Bad debts a/ciii)Provision for doubtful debts a/civ)Profit and loss a/c

15) The following is the trial balance of a trader as on 31st Chaitra, 2075: [4+6+5=15]Particulars Debit (Rs) Particulars Credit (Rs)Opening stock 1,40,000 Sales 3,00,000Salaries 51,000 Capital 4,00,000Drawing 50,000 12% Loan 50,000Building 2,00,000 Commission 3,000Furniture 30,000 Creditors 50,00010% Investment 50,000 Bills payable 134,000Purchases 2,50,000 Provision for bad debt 2,500Interest on loan 3,000    Wages 20,000    Insurance 5,000    Debtors 1,00,000    Cash balance 10,500    Bills receivable 30,000      9,39,500   9,39,500Additional information:a) Closing stock Rs. 1,50,000.b) Outstanding expenses: Wages Rs. 2,000, Salaries Rs. 9,000.c) Write off bad debts Rs. 10,000.d) Create provision for bad debts @ 5% on debtors.e) Insurance prepaid Rs. 2,500.f) Depreciate furniture by 10%.Required:Trading accountBalance sheetProfit and loss account

Mr. Anand does not maintain proper books of accounts. From the followinginformation prepare Trading and Profit and Loss A/c for the year ended31-3-2022 and the Balance Sheet as on that date.Assets and Liabilities 1-4-2021 31-3-2022Debtors 34,000 48,000Stock 18,000 24,000Furniture 10,000 10,000Creditors 12,000 9,000Cash in hand 8,000 4,000Other factors are as follows:Cash collected from debtors 1,20,000Cash paid to creditors 84,000Salaries 20,000Rent 6,000Office expenses 4,000Drawings 8,000Cash sales 6,000Cash purchase 12,000Discount received 2,000Discount allowed 4,000Return inward 2,0001,000