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

The following trial balance was extracted from the books of Rose Martins, a sole trader on 31 December 2005. Sh. Sh.Capital 2,880,000Freehold land and buildings at cost 1,120,000Motor vehicles at cost 1,094,000Furniture and fittings at cost 240,000Stock at 1 January 2005 960,000Purchases and sales 9,408,000 11,088,000Debtors and creditors 936,000 695,200Discounts allowed and received 195,200 119,200 Returns inwards and outwards 16,000 28,800Rent received 44,000 Loan (interest payable 5% per annum) 192,000Interest on loan 4,800Proceeds of sale of motor vehicle 150,000Provision for doubtful debts 27,200Bad debts 52,000Wages and salaries 1,127,200Drawings 256,000General expenses 138,400Bank balance 108,800Rates and insurance 48,000Provisions for depreciation: Furniture and fittings 160,000 Motor vehicle 320,000 15,704,400 15,704,400Notes:1. Stock at 31 December 2005 was valued at Sh. 1,360,000.2. Included in general expenses is a sum of Sh. 26,400 being expenses on electricity for domestic use.3. A vehicle purchased on 1 January 2003 at Sh. 450,000 was sold for Sh. 150,000. The only record of the transaction is the credit of Sh. 150,000 to the proceeds of sale of motor vehicle account.4. As at 31 December 2005, wages and salaries outstanding amounted to Sh. 66,400.5. Prepaid rates and insurance as at 31 December 2005 stood at Sh. 12,000.6. Interest paid is only a half of the amount due for the year ended 31 December 2005.7. Provision for doubtful debts is to be adjusted to 5% of the debtors.8. Depreciation is to be provided for as follows:(i) Furniture and fittings at 5% on reducing balance method(ii) Motor vehicles at 20% on straight line method.9. Rent owing from a tenant who occupies a part of the building was Sh. 40,000 on 31 December 20005.Required:a) Profit and loss account for the year ended 31 December 2005.b) Balance sheet as at 31 December 2005.

The trial balance extracted from the books ofTim on 31/12/2020 is as follows.Dr. Cr.Kshs. Kshs.Capital 217,500Land and building 150,000Equipment at cost 37,500Depreciation provision for equipment 15,000Fitting at cost 37,500Depreciation provision fittings 17,250Stock 21,375Salaries and wages 57,750Purchases 225,000Administrative expenses 30,000Cash in bank 37,500Cash at hand 7,500Debtors 37,500Creditors 21,375CUEA/ACAD/EXAMINATIONS/DIRECTORATE OF EXAMINATIONS & TIMETABLING Page 3ISO 9001:2015 Certified by the Kenya Bureau of Standards.Sales 375,000Carriage out ward 1,500Carriage inward 750Return inward 1,125Return out ward 1,400Discount allowed 2,250Discount received 1,225Bad debts written 1,500Total 648,750 848,750Additional informationi) Closing stock was valued at kshs30,000ii) Wages paid in advance shs2000iii) Administrative expenses outstanding shs 1500iv) Depreciation to be charged 10% on cost of equipment and 5% on cost of fittings.v) 5% provision for doubtful debts .Required;i) Trading profit and loss account for the period ending 31/12/20 (13 Marks)ii) Balance sheet as at 31/12/20

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

The trial balance of Gayathri business on 2021.12.31 is as follows.Rs. ‘000’Details Debit CreditCash and cash equivalentsStock on 31.12.2021Bonus payment for sales employeesInsuranceTrade payableCapitalBank loan interest20% Bank loanElectricity chargeMotor vehicle repairOther expensesAccumulated depreciation on 2021.01.01Property, plant and equipment – cost on 2021.01.01Trade receivableOther administrative expensesProvision for doubtful debt on 2021.01.01Office rentTelephone chargeSalesCost of sales1504503007001006506501 22012 70080090030527010 0004008 7001 0003 02510015 97029 195 29 195Additional information:1. Details of accumulated depreciation of property, plant and equipment are as follows.Assets Cost Rs. ‘000’ Accumulateddepreciation Rs. ‘000’Motor vehicleOffice equipmentLand and building(Land cost Rs. 5 000)2 0001 0009 7006006251 80012 700 3 0252. In accordance with inventory records, cost value of stock on 31.12.2021 is Rs. 450 000. However, thegoods taken by Gayathri for her private need have not been recorded.3. Telephone charge not paid up to 31.12.2021 is Rs. 30 000.4. Property, plant and equipment are depreciated on straight line method. The details useful life time andresidual value are given below.Grade - 12 (2023) – 2023 FWC - 7 - Accounting- IAssets Useful life time Residual valueMotor vehicleOffice equipmentBuilding20 years10 years18 years---5. Other expenses include the following expenses.Fire loss Rs. 220 000Business fees Rs. 100 000Employee salary Rs. 400 0006. A new office equipment was purchased for Rs. 500 000 on 2021.07.01. This amount was erroneouslyrecorded in other administrative expenses. Life time of this equipment was estimated as 5 years andthere is no residual value.7. Rs. 100 000 should be written off from debtors and allowance for doubtful debt on 2021.12.31 shouldbe adjusted as 10% of closing trade receivable.8. Cash control account balance of the business on 2021.12.31 and bank statement balance on the samedate were different due to the following reasons.(a) Rs. 50 000 directly deposited by a debtor directly at bank was not recorded in the books.(b) Own life insurance premium of Gayathri paid from the business fund was not recorded in theaccounting books.(c) Bank overdraft interest Rs. 15 000 in bank statement was not recorded in the accounting booksup to 31.12.2021.Required,1. Profit or loss statement for the year ended 2021.12.312. Statement of financial position as at 2021.12.31

Use this information to answer this question (Question #1 and all the other 19 questions).Solar Eclipse, a sole trader, has asked you to assist him in preparing his financial statements. He operates a small wholesale business in Kingston and has presented you with the following Trial balance as at December 31, 2022:Particulars/DetailsDRCR$$Stock at January 1, 202221,6720Bank overdraft018,270Capital030,240Cash3780Discounts6,0484,032Returns3,4022,394Carriage outwards9,0720Carriage inwards3,9900Insurance7,3080Provision for bad debts02,772Equipment7,1400Motor Truck13,0200Provision for depreciation on Motor Truck04,200Provision for depreciation on Equipment02,100Accounts Receivable and Payables50,02225,452Drawings12,0960Telephone Charges37,5480Rent2,0160Purchases and Sales92,022176,274265,734265,734 Notes:      i.         A search of the warehouse on December 31, 2022 revealed some merchandise in a closed container valuing $30,800. This was deemed to be material in nature. There was another box of item valuing $500 but was deemed to be immaterial.     ii.         On December 31, 2023 we received an email that telephone charges valuing $1,260 throughout the year had not been paid by us and therefore requires payment.   iii.         We got a letter via mail that the rent payments throughout the year have not been paid by us. The amount in the letter for the rent amount to $700.   iv.         For the year 2022, we were required to pay Insurance for 12 months but we paid for 13 months. The payment for the 13th month for the insurance was $1,120 which is for January 2023.       v.         Increase the provision for bad debts to $2,800   vi.         Provision for depreciation Motor Truck 10% of cost, and Equipment 15% on the reducing balance method.  Required:(a)   Prepare an Income Statement for the year ended December 31, 2022