QUESTION SIX (6)

From the following trial balance of Enchi Ltd, prepare the Income Statement for the period ended December 31, 2022 and the Statement of Financial Position as at December 31, 2022 Sales Purchases Sales returns Trial Balance as at 31 December 2022 CR GHC 420,000.00 Purchases returns Opening stock at 1 January 2022 Provision for doubtful debts Wages and salaries Rates Telephone Shop fittings at cost Van at cost Debtors and creditors Bad debts Capital Bank balance Drawings DR GHC 367,500.00 5,250.00 105,000.00 31,500.00 6,300.00 1,050.00 42,000.00 31,500.00 10,290.00 210.00 6,510.00 840.00 7,350.00 187,950.00 3,150.00 18,900.00 622,650.00 622,650.00 Additional information: (i) Closing stock at 31 December 2022 GHC 126,000. (i) Accrued wages GHC5,250. (iii) Rates prepaid GHC525. (iv) The provision for doubtful debts to be increased to 10.5 per cent of debtors. (v) Telephone account outstanding GHC231. (vi) Depreciate shop fittings at 10.5 per cent per annum, and van at 21 per cent per annum, on cost

QUESTION SIX (6) From the following trial balance of Enchi Ltd, prepare the Income Statement for the period ended December 31, 2022 and the Statement of Financial Position as at December 31, 2022 Additional information: (i) Closing stock at 31 December 2022 GHC 126,000. (i) Accrued wages GHC5,250. (iii) Rates prepaid GHC525. (iv) The provision for doubtful debts to be increased to 10.5 per cent of debtors. (v) Telephone account outstanding GHC231. (vi) Depreciate shop fittings at 10.5 per cent per annum, and van at 21 per cent per annum, on cost 15 | Page