250,000 250,000 -50,000 75,000 -25,000 9. Company have these data: Balance Sheet as of 01/01/1998 Fixed Liabilities: 1,100,000 Fixed Assets Capital 1,000,000 Furniture Reserves 1,000,000 Furniture depn. Cars Cars depn. Partners Accounti 250,000 Partner A 130,000 Current Assets: Partner B 120,000 Inventory Customers Bad Debts provision Current Liabilities: 350,000 Pre-paid rent Creditors 325,000 Accrued Salaries 25,000 Cash & Bank Cash Bank A/C 1,700,000 1,300,000 525,000 750,000 25,000 50,000 150,000 10,000 140,000 1,700,000 Accounts Balances as on 31/12/1998 Furniture Other exp Cars Rent Stock Cost of sales Customer Salaries Bad debt prov. Sales Pre-paid rent Accrued salaries Cash Creditors Bank A/C Partner A Capital Partner B Reserves Car A/C Depn. Furniture A/C Dep 300,000 20,000 100,000 225,000 600,000 1.700.000 505,000 335,000 25,000 2,220,000 50,000 25,000 15,000 250,000 25,000 100,000 1,000,000 80,000 100,000 25,000 50,000 Page 4 a). Prepare Trial Balance as of 31/12/1998 Debit Credit Account name Furniture Other expenses Cars Rent Stock Cost of Sales Customer Salaries Bad debt prov. Sales Prepaid rent Accrued salaries Cash Creditors Bank A Partner A Capital Partner B Reserves Car. A Depn. Furniture A.Depn. Total Other information: > The company purchased new furniture on 30/6/1998 and new car on 30/9/1998, Furniture and car depreciation rate is 20% > Monthly salaries 30,000, yearly rent 325,000 > New Bad Debts 5,000, Bad Debts provision rate 6% of debtors total. > Bank statement balance 24,000 as at 31/12/1998 * Receipt cheque (2,000) sent to bank but the bank didn't register yet. * Payment cheque (1,500), didn't withdrew yet. Bank expenses (500) b). Prepare bank compliance c). Prepare Income Statement as at 31/12/1998 d). Prepare Balance Sheet as at 31/12/1998 e). Prepare Cash Flow Statement as at 31/12/1998