27.400 49.800 39.600 01. Rooded by a series of misfortune George Temu les his petition for barkapte and RIO is made on him on 30 June 2010. The following information is available: a) His business assets on this date are as follows: Book values ERV Motor vehicles 39.800 21.500 Funiture and itings 10.000 Stock in tade 56,500 Trade debtors 24,800 Cash in hand and at Bark 7200 b) A loan secured from TB at 6% interest on the security of the MW, was outstanding on this date at shs.20,000 c) Other business labilities include: shs 36.200 due to creditors, out of which a daim for shs 2.400 is statute bared Shs. 9.200 due to Mrs Temu being the amount advanced byherfor meeting workers' salary for June 2010 Shs 9.200 as salaries to workers for June 2010 Shs. 5400 due to general manage as his salary for the three month to 30 June 2010 Shs. 650 due to telephone and elechichy bils Shs. 350 due as interest on TB ban In the event of cessation of business shs. 24,500 will become payable to the employees as compensation e) Net trading loss and household expenses of Temu, who had no other source of income, respect of the year to 30 June 2010 amounts to shs 13,800 and 19500 respectively Temu personal liabilities on this date consist of Shs. 24.800 due in respect of gambling debts Shs. 3,100 due in reped of liquor ball Shs. 8.500 due as medical bils Shs. 25,300 due as income tax made up as follows Year of assessment Income tax Interest Assessment 2006 06.10.2007 700 14.07.2009 01.02.2010 2009 Estimated g) ANBC loan guaranteed by Temu for a friend is outstanding tshs 27 200 h) Onlypersonal asets owned by Temu on this date consist of Music centre expected to realize shs 7.500 Fumitre expected to realize shs 6,000 Life policy having surender value of shs 6,400 Bedding and wearing apparel shs 5,000 You are required to prepare the Statement of Afairs and the Deficiency Account of George Temu 1.900 2007 11.400 8.000 2.500 1.800 2008 27.400 49.800 39.600 01. Rooded by a series of misfortune George Temu les his petition for barkapte and RIO is made on him on 30 June 2010. The following information is available: a) His business assets on this date are as follows: Book values ERV Motor vehicles 39.800 21.500 Funiture and itings 10.000 Stock in tade 56,500 Trade debtors 24,800 Cash in hand and at Bark 7200 b) A loan secured from TB at 6% interest on the security of the MW, was outstanding on this date at shs.20,000 c) Other business labilities include: shs 36.200 due to creditors, out of which a daim for shs 2.400 is statute bared Shs. 9.200 due to Mrs Temu being the amount advanced byherfor meeting workers' salary for June 2010 Shs 9.200 as salaries to workers for June 2010 Shs. 5400 due to general manage as his salary for the three month to 30 June 2010 Shs. 650 due to telephone and elechichy bils Shs. 350 due as interest on TB ban In the event of cessation of business shs. 24,500 will become payable to the employees as compensation e) Net trading loss and household expenses of Temu, who had no other source of income, respect of the year to 30 June 2010 amounts to shs 13,800 and 19500 respectively Temu personal liabilities on this date consist of Shs. 24.800 due in respect of gambling debts Shs. 3,100 due in reped of liquor ball Shs. 8.500 due as medical bils Shs. 25,300 due as income tax made up as follows Year of assessment Income tax Interest Assessment 2006 06.10.2007 700 14.07.2009 01.02.2010 2009 Estimated g) ANBC loan guaranteed by Temu for a friend is outstanding tshs 27 200 h) Onlypersonal asets owned by Temu on this date consist of Music centre expected to realize shs 7.500 Fumitre expected to realize shs 6,000 Life policy having surender value of shs 6,400 Bedding and wearing apparel shs 5,000 You are required to prepare the Statement of Afairs and the Deficiency Account of George Temu 1.900 2007 11.400 8.000 2.500 1.800 2008
