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QUESTION 5 (ASSIGNMENT) Kaba Limited acquired a shop in Accra and has also rented a premise at Hohoe. The trial balance below shows the activitics
QUESTION 5 (ASSIGNMENT) Kaba Limited acquired a shop in Accra and has also rented a premise at Hohoe. The trial balance below shows the activitics of the company for the financial year ended 31m December, 2017. The following additional information (i) Depreciation is to be provided Accra GHel,200 Ho hoe GHe240 (ii) Closing stock valued at cost was: Accra GHc9,000 Ho hoe GHe360 However goods valued at GHe1,200 were in transit from Accra to Hohoe (iii) It is the policy of the enterprise to send goods to the branch at cost plus a profit loading of 331/3%. Required: The statement of profit or loss of Kaba Ltd, showing separately that of Accra, Hohoe and the combined entity for the year ended 312 December 2017 and the statement of financial position for the combined entity as at 31e December 2017
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