1. The following cetails were extracted from Jim's trial balance as at 31/12/2012 Debits Credits Sh.'000 Sh.'000 Plant and Machinery 7000 Land and buildings 13000 Furniture and fittngs 6500 Sales and purchases 10000 30000 Discounts 700 500 Commission 1000 Provision for depreciation: Plant & machinery 1500 Furniture & fittings 800 Returns inwards 2000 Returns outwards 1000 Debtors 5000 Provision for bad debts 500 Bad debts 1500 General expenses 3000 Salaries and wages 1700 Drawings 700 Capital 15800 51100 51100 Additional information: i) Closing stock sh.6000000 ii) Povision for bad debts is set at 10% of the debtors iii) Depreciation is provided on plant and machinery at 12% and on furniture and fittings at 10% or cost iv) Accrued general expenses Sh.2000 and prepaid salaties and wages s11.200 Required: a) Ircome statement for the year ended 31/12/2012 (12 narks) b) Statement of financial position as at 31/12/2012 (8 marks) 1. The following cetails were extracted from Jim's trial balance as at 31/12/2012 Debits Credits Sh.'000 Sh.'000 Plant and Machinery 7000 Land and buildings 13000 Furniture and fittngs 6500 Sales and purchases 10000 30000 Discounts 700 500 Commission 1000 Provision for depreciation: Plant & machinery 1500 Furniture & fittings 800 Returns inwards 2000 Returns outwards 1000 Debtors 5000 Provision for bad debts 500 Bad debts 1500 General expenses 3000 Salaries and wages 1700 Drawings 700 Capital 15800 51100 51100 Additional information: i) Closing stock sh.6000000 ii) Povision for bad debts is set at 10% of the debtors iii) Depreciation is provided on plant and machinery at 12% and on furniture and fittings at 10% or cost iv) Accrued general expenses Sh.2000 and prepaid salaties and wages s11.200 Required: a) Ircome statement for the year ended 31/12/2012 (12 narks) b) Statement of financial position as at 31/12/2012 (8 marks)