course quantity surveying

QUESTION 1 The following is the trial balance of KARL LTD as at 31 December 2008 Builiye Accueil depreciation olding Accumulated depec of Man & quiet Dette cateva Credit Trade when Stocks 31 December 2007 Purchase Sales Electric Sundry Expenses De' Romantic Frode and Low Accecom General Race TOTAL You are given the following information Stock at 31 December 2008 was 348,500 2. Authorised share capital: 1,000,000 in ordinary shares of EL Electricity owing 2,700 Ordinary dividend proposed of 20% ie 90.000 Provide for depreciation of all fixed assets at 20% using the Taxation Charge for the Year is 35,000. This was not paid at year end. REQUIRED Prepare the income Statement and the Statement of Changes in Equity for KARL LTD for the year ended 31 December 2008. Prepare the Balance Sheet as at 31 December 2008, Debit Credit Share capital issued: ordinary shares El 450.000 Buildings at cost 270,000 Accumulated depreciation of buildings 108,000 Plant & Equipment at cost 168,000 Accumulated depreciation of Plant & Equipment 75,600 Debtors (Trade Receivables) 171,360 Creditors (Trade Payables) 134,832 Bank 97,530 Stock as at 31 December 2007 248,490 Sales 585,000 Purchases 308,280 Salaries 68,232 Electricity 48.864 Rent & Rates 13,848 Sundry Expenses 6,456 Directors Remuneration 37,200 Profit and Loss Account as at 31 December 2007 36828 General Reserve 48.000 TOTAL 1.438,260 1,438,260 You are given the following information: 1. Stock at 31 December 2008 was 348,500. 11. Authorised share capital: 1,000,000 in ordinary shares of 1. ii. Electricity owing 2,700 iv. Ordinary dividend proposed of 20% ie 90,000. Provide for depreciation of all fixed assets at 20% using the reducing balance method. vi. Taxation Charge for the Year is 35,000. This was not paid at year end. REQUIRED a. Prepare the Income Statement and the Statement of Changes in Equity for KARL LTD for the year ended 31 December 2008. as at b. Prepare the Balance Sheet 2008 31 December