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please help me with accounting Followine is the trial balance of CARE Ltd as on 31 March 2022 Equipment at cost Fined awsess replacement reserve
please help me with accounting
Followine is the trial balance of CARE Ltd as on 31 March 2022 Equipment at cost Fined awsess replacement reserve 35,000 General resenve Motor Vehicles at cost Profit and loss account Wages and salaries 10,000 6,000 Return inwards Rents, rates, and insurance Purchases Discount allowed Director's remuneration Carriage inwards 28,50010,3606,0003,96499,500 Accumulated depreciation: \begin{tabular}{lcc} Paletum inmards & 1,150 \\ Rents, rotes, and insurance & 5,170 \\ Purchases & 66,350 \\ Discount allowed & 1,246 & \\ Director's remuneration & 2,500 & \\ Carriage inwards & 240 & \\ Accumulated depreciation: & & 8,400 \\ Equipment & & 10,350 \\ Motor vehicles & 220,524 \\ \hline \end{tabular} You are given the following additional information: 1) Accrued rent is $700; directors' remuneration is $2,500 ii) Half a year debenture interest is owed iii) Depreciate using reducing balance method equipment @ 10% on cost and motor vehicles @ 20% on cost. iv) Stock on 31 March 2022 is $49.371 v) The share capital consisted of 25,000 ordinary shares of $1 each and 25,00010% Preference shares of $1 each. v) The share capital consisted of 25,000 ordinary shares of $1 each and 25,00010% Preference shares of $1 each. vi) The dividend on the preference shares was proposed to be paid as well as a dividend of 20% on the ordinary shares, viii) Transfer \$ 2,000 to general reserve and \$1.000 to fixed assets replacement reserve Required: From the above information, you are required to prepare: (i) Income Statement, including appropriation a/c for the year 31 March 2022 (30 marks) A Balance Sheet as at 31 March 2022 (30 marks) Step by Step Solution
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