Capital Account 1 April 2016 134 700.00 Drawings 7 200.00 Office Furniture 70 000.00 Provision for Depreciation of Office Furniture 2 000.00 Rent 10 000.00 Wages and Salaries 14 000.00 Discount Received 4 000.00 Discount Allowed 10 000.00 Debtors 34 000.00 Creditors 16 000.00 Inventory 1 April 2016 21 000.00 Provision for Doubtful Debts 1 800.00 Motor Vehicle 50 000.00 Motor Expenses 9 400.00 Provision for Depreciation of Motor Vehicles 3 000.00 Bad Debts 5 600.00 Notes (1) Stock at 31* March 2017 K15 500.00 (ii) Wages and Salaries accrued K6 000.00 (111) Rent prepaid K2 000.00 (iv) Motor Expenses owing K1 600.00 (v) Adjust provision for Bad Debts to 4% of Debtors. (vi) Provide for depreciation as follows: Office Furniture 6% of cost, Motor vehicle 7% of cost (vii) Fyumbu withdrew cash from Bank KZ 800.00 for own use but no record had been made in the books. Principles d'Acun, 7:402.2013 Page 15 of 16 (viii) A purchase invoice of K5 000.00 was completely omitted from the books You are required to prepare: (1) Trading and Profit and Loss Account showing cost of goods sold for the year ended 31 March 2017 [16] (1) The Balance Sheet as at 31 March 2017 [18] [Total: 34 marks] OR 4 (b) J. Katwishi is a Manufacturer of children's Toys and the following balances were extracted from his books on 31* December 2017 KN Capital Account 1 April 2016 134 700.00 Drawings 7 200.00 Office Furniture 70 000.00 Provision for Depreciation of Office Furniture 2 000.00 Rent 10 000.00 Wages and Salaries 14 000.00 Discount Received 4 000.00 Discount Allowed 10 000.00 Debtors 34 000.00 Creditors 16 000.00 Inventory 1 April 2016 21 000.00 Provision for Doubtful Debts 1 800.00 Motor Vehicle 50 000.00 Motor Expenses 9 400.00 Provision for Depreciation of Motor Vehicles 3 000.00 Bad Debts 5 600.00 Notes (1) Stock at 31* March 2017 K15 500.00 (ii) Wages and Salaries accrued K6 000.00 (111) Rent prepaid K2 000.00 (iv) Motor Expenses owing K1 600.00 (v) Adjust provision for Bad Debts to 4% of Debtors. (vi) Provide for depreciation as follows: Office Furniture 6% of cost, Motor vehicle 7% of cost (vii) Fyumbu withdrew cash from Bank KZ 800.00 for own use but no record had been made in the books. Principles d'Acun, 7:402.2013 Page 15 of 16 (viii) A purchase invoice of K5 000.00 was completely omitted from the books You are required to prepare: (1) Trading and Profit and Loss Account showing cost of goods sold for the year ended 31 March 2017 [16] (1) The Balance Sheet as at 31 March 2017 [18] [Total: 34 marks] OR 4 (b) J. Katwishi is a Manufacturer of children's Toys and the following balances were extracted from his books on 31* December 2017 KN