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Q.NO.2) THE ACCOUNTANT HAS FOUND THE FOLLOWING DETAILS OF TRANSACTIONS FOR J.FRANK'S SHOP FOR THE YEAR ENDED 31/12/2005 1) THE SALES ARE MOSTLY ON CREDIT.NO

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Q.NO.2) THE ACCOUNTANT HAS FOUND THE FOLLOWING DETAILS OF TRANSACTIONS FOR J.FRANK'S SHOP FOR THE YEAR ENDED 31/12/2005 1) THE SALES ARE MOSTLY ON CREDIT.NO RECORD OF SALES HAS BEEN KEPT.BUT 61500 HAS BEEN RECEIVED FROM DEBTORS-48000 BY CHEQUE AND 13500 IN CASH 2) AMOUNT PAID TO SUPPLIERS BY CHEQUE 31600 3) EXPENSES PAID DURING THE YEAR :BY CHEQUE :RENT 3800, GENERAL EXPENSES 310,BY CASH:RENT 400 4) J.FRANK TOOK 250 EACH PER WEEK FOR 52 WEEKS AS DRAWINGS 5) OTHER INFORMATIONS 31/12/2004 31/12/2005 DEBTORS 5500 6600 CREDITORS 1600 2600 O/S RENT 350 BANK 5650 17940 CASH 320 420 STOCK 6360 6800 FIXTURES 3300 ? 6) DEPRECIATION ON FIXTURES AT 10%P.A. SHOW THE NECESSARY ACCOUNTS (25 MARKS)

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