Notes

1.Rent(income received) of GHS 55,000.00 was not recorded in the trial balance

2.Using straight line method make provision for depreciation on fixed assets as follows:

i. Plant and Machinery at 10%

ii. Fixtures and fittings at 15%

iii. Motor vehicles at 20%

iv. Premises at 5%

3. Insurance covers a period of 15 months to March, 2016

4.Telephone bill of GHS 3,500, Water bill of GHS 6,000 and Medical Bill of GHS 3,500 for 31 December 2015 are yet to

be paid

5. Cash sales of GHS 11,000 to Awura Adwoa Enterprise has not been effected

You are required to:

1. Prepare adjusted trading profit and loss account for Banda Limited for the period ending December 31, 2015

T SECTION A The following is the trial balance of Banda Limited as at 31 December 2015 Capital 366,000.00 Fixture & fitting 99,000.00 Motor Vehicle 210,000.00 Premises 310,000.00 Plant and Machinery 94,000.00 Inventory (01/01/2015) 15,000.00 Medical 9,000.00 Insurance 29,000.00 Staff donations 6,500.00 Energy Cost 35,000.00 Payroll cost 38,000.00 Business rates 26,000.00 Prepayment 4,500.00 Bank 6,500.00 Cash 1,900.00 8,000.00 Opuni Enterprise Advertisement Oil & Lubricants IT Consumables Account payable 1,500.00 4,500.00 Office Consumables 6,800.00 Stationery expense 5,500.00 Training cost 3,500.00 Cleaning cost 3,300.00 Interest on loan 1,000.00 Receivable 31,000.00 Sales Total 949,500.00 20,500.00 24,000.00 539,000.00 949,500.00 Notes 1 2. Rent (income received) of GHS 55,000.00 was not recorded in the trial balance Using straight line method make provision for depreciation on fixed assets as follows: 1. Plant and Machinery at 10% ii. Fixtures and fittings at 15% iii. Motor vehicles at 20% iv. Premises at 5% 3. Insurance covers a period of 15 months to March, 2016 4. Telephone bill of GHS 3,500, Water bill of GHS 6,000 and Medical Bill of GHS 3,500 for 31 December 2015 are yet to be paid 5. Cash sales of GHS 11,000 to Awura Adwoa Enterprise has not been effected You are required to: 1 Prepare adjusted trading profit and loss account for Banda Limited for the period ending December 31, 2015