1. ALL SHALL PASS owns a Spare parts shop at OHIA MA ADWENa suburb of MENSURO in the Nkwantanan District. At 31st December, 2017 the following balances appeared in her books. Dr Cr GHC GH Capital (1/1/2017) 128,000 Property, Plant & Equipment (PPE) at cost Accumulated Depreciation on PPE at 1/1/2017 Inventory Purchases and Sales Returns Carriage outwards Carriage inwards Trade Receivables Trade Payables Allowance for doubtful debts Bad debts Staff costs Discounts Advertising Electricity & Water Bills 15% Loan Note 26,800 Rent & Rates Sundry Expenses Cash Bank Personal Drawings 490,800 490,800 The following additional information was made available: a] Inventory at 31st December, 2017 was valued at GH18,500. b] Depreciation at the rate of 20% on cost is to be provided on property, plant and equipment. c] An amount of GH5,000 is outstanding in respect of staff cost at 31st December, 2017. d] Allowance for doubtful debts is to be adjusted to GH10,000 at 31st December, 2017 as a result of improvement in debt recovery efforts. E] The manager of the business who is not a resident of the area is entitled to 5% of the net profit after charging such profit as compensation for relocation. 2. Mr Awarebone started business on July 2017 with a capital of GHS10,000 in a bank current account. During July 2017, he made the following transactions July 1. Paid GHS5,000 by cheque for a shop. July 2. Bought office equipment by cheque GHS1,400 July 4. Bought goods costing GHS630 from Awareso July 6. Paid postage of GHS35 cheque July 9. Purchase by cheque GHS420 July 11. Sold goods on credit to Counsellor for GHS880 July 13. Drawing by cheque GHS250 July 16. Returned goods costing GHS180 to Awareso July 18. Sold goods and received a cheque for GHS540 in payment July 20. Paid telephone bill by cheque GHS120 July 22. Counsellor returned goods invoiced at GHS310 July 24. Paid gas bill by cheque GHS65 July 26. Sent Awareso a cheque for GHS230 July 28. Received a cheque for GHS280 from Counselor July 30. Paid electricity bill of GHS85 by cheque July 31. Paid bank charges of GHS45. REQUIRED: a. Record the above transactions in the ledger b. Extract a trial balance for the business as at 31 July 2017. 120,000 20,000 75,000 4,500 8,000 3,400 35,000 10,000 45,000 9,000 22,000 27,000 15,000 18,000 15,000 48,900 15,000 24,000 240,000 2,000 40,000 15,000 15,000