QUESTION 1 (30 Mark: 63 minutes) The following is the trial balance of Eskimo Limited at 31 December 20x8 ESKIMO LIMITED TRIAL BALANCE AT Debit Credit Retained earnings (1/1/20x8) Non-curent liabilities: Loan from AB Bank Revaluation surplus (1/1/20x8) Ordinary share capital Revenue: Sales Interest income Rent income Cost of sales Interest on bank overdraft General expense Bad debts expense Repairs and maintenance ex Marketing expense Fuel expense Depreciation expense Salaries Investments in listed c Accounts receivable Bank Current tax payable Inventories Accounts payable Land 145 000 25 000 20 000 240 000 580 000 12 500 23 000 300 000 9 500 113 000 20 000 30 000 22 000 40 000 25 000 50 000 50 000 250 000 ies 23 000 12 800 120 000 225 000 200000 100 000 uipment: Cost quipment: Accumulated depreciation 40 000 Income tax expense 800 15 000 46 300 Dividends Additional information: Share capital constitutes 120 000 ordinary shares of no par value. 20 000 shares were issued for NS40 000 on the first day of the year .The interest and rental income are incidental to main business operations