Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

estion 1 ot yet answered Marked out of 50.00 Flag question Hellios Limited has prepared the following trial balance as at December 31, 2021

image text in transcribedimage text in transcribed

estion 1 ot yet answered Marked out of 50.00 Flag question Hellios Limited has prepared the following trial balance as at December 31, 2021 Accounts Land Sh.'000' Sh.'000' 260,000 Building 150,000 Plant and equipment 120,000 Motor vehicles 32,000 Provision for depreciation: Building 20,000 :Plant and equipment 74,000 :Motor vehicles 16,800 Inventory -Jan 01,2021 74,000 Accounts receivables/payables 122,550 99,880 Bank Purchases/Sales Returns Discounts Administration expenses Selling expenses 3500 134,630 349,760 19,900 4,880 3,200 6,850 22,180 6,900 12% Bank Loan -For 10 years 100,000 Ordinary shares @sh. 100 12 % Preference shares @sh.100 180,000 20,000 Retained earning Additional information: 1. 2. Inventory as at December 31, 2021 was sh. 124,875,000 As at December 31, 2021, the following balances were relevant; 69,690 945,360 945,360 to search # 3 Accrued expenses Prepaid expenses Administration expenses Selling expenses 3. Depreciation is to be provided as follows Sh. 2,000,000 Sh.8,000,000 Sh. 25,000,000 Sh. 15,300,000 Asset Rate per annum Building 4s on cost $ 196 % 4 5 47 6 CZ Typ & 4 7 to W 80 144 6 No T 30C 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia Libby

4th edition

978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372

More Books

Students also viewed these Accounting questions

Question

Why are you interested in our program?

Answered: 1 week ago

Question

Who sets U.S. accounting rules?

Answered: 1 week ago