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Part 3: Final Accounts - 30 marks The following Trial Balance was extracted from the books of A.Scholes at the close of business on 28
Part 3: Final Accounts - 30 marks The following Trial Balance was extracted from the books of A.Scholes at the close of business on 28 February 2019. Dr. $ Cr, $ Purchases and Sales 11,280 19,740 Cash in Bank 1.140 Cash in hand 210 Equity Account 1 March 2018 9,900 Drawings 2.850 Office furniture 1.440 Rent 1,020 Wages and Salaries 2,580 Discounts 690 360 Debtors un Creditors 4,920 2.490 Stock 1 March 2018 2.970 Provision for bed debt 270 Delivery van 2,400 Van running costs 450 Bad debt written off 810 Total 32,760 32,760 Additional information related to the reporting year asat 28 February, 2019 (a) Stocks $3,510. (b) Wages ans Salaries accrued $90. (C) Rent prepaid $ 140. (d) Van running costs owing $60. (C) Increase the provision for Bad debt by $60. 0 Provide the depreciation as follow: - Office furniture S 180; - Delivery van $480. Required: Draw up the Income statement for the year ending 28 February, 2019 and the Balance sheet as at 28 February. 2019
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