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(a) Matyola Chilumuna does not keep a full set of books for the business but has the following information available 1 October 2018 30 September
(a) Matyola Chilumuna does not keep a full set of books for the business but has the following information available 1 October 2018 30 September 2019 Stock 47 000 00 00 Debtors 19 000 00 00 Bank Bank Overdraft 24 500 00 Creditors 17 500 00 Premises 21 000 00 Equipment 39 000 00 Motor Vehicles 52 000 00 During the year Chilumuna took K3 500.00 cash per month for his personal use. He also paid K7 000.00 expenses for repair of his private motor vehide from the business Bank Account. In June 2019 he sold some of his private investments for K30 000.00 and put the proceeds into the business Bank Account Required (0) Calculate the opening and closing business capital show your workings. [19] (i) Prepare a statement showing profit or loss for the year ending 30 September 2019. [612] (iii) Prepare a Balance Sheet as at 30 September 2019. [872] [Total: 34 marks] PAPER COME Com
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