Question 4 The trial balance of MSA plc as 30 June 2016 was as follows.

Ordinary share capital 1,450.00

Capital reserves 45.00

Revenue reserves 1.7.2015 78.00

Cash and bank 40.90

Debtors 780.00

Provision for doubtful debts 19.50

Creditors 545.60

Purchases 2,012.00

Sales 3,192.00

Non- current assets (at cost) 1,913.00

Accumulated depreciation-(all non-current assets) 839.90

Electricity 267.50

Rent and rates 150.00

Insurance 30.00

Salaries and wages 580.00

Water 19.00

Depreciation (all fixed assets) 138.00

Bad debts 23.00

Bank overdraft 18.20

Interest on overdraft 1.80

Long term loan 100.00

Interest on long term loan (expense) 10.00

Interest payable 10.00

Accrued expenses 19.00

Prepaid expenses 12.50

Increase in provision for doubtful debts (expense) 19.50

Opening Stock 320.00

Closing Stock 810.00

Trading account 810.00