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Question 4 The following Trail Balances have been extracted from the accounts of Ohakahana Store, a sole trader, for the period ended 30 April 2019,
Question 4 The following Trail Balances have been extracted from the accounts of Ohakahana Store, a sole trader, for the period ended 30 April 2019, the end of their most recent financial year. The following information as at 30 April 2019 is also available: a) Inventory at the close of business was valued at N\$ 17750 . b) Insurances have been prepaid by N$1120. c) Heating and lighting is accrued by N$1360. d) Rates have been prepaid by N$5435 e) The provision for bad debts is to be adjusted so that it is 3% of trade debtor You are require a) Statement of comprehensive income(Trading, Profit and Loss Account) for the year ending 30 April 2019 (15 Marks) b) Statement of financial position (Balance Sheet) as at 30 April 2019. (10 Marks) [Total 25 Marks]
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