QUESTION THREE

The following is the trial balance of KSmooth as at 31 March 2002. Draw up a set of final accounts for the year ended 31 March 2002.show your working

	Dr	Cr
Stock 1 April 2001	1,816,000
Sales		9,234,000
Purchases	6,918,500
Carriage inwards	42,000
Carriage outwards	157,000
Returns outwards		64,000
Wages and salaries	1,024,000
Rent and rates	301,500
Communication expenses	62,400
Commissions payable	21,600
Insurance	40,500
Sundry expenses	31,800
Buildings	2,000,000
Debtors	1,432,000
Creditors		816,000
Fixtures	285,000
Cash at bank	297,000
Cash in hand	11,500
Drawings	762,000
Capital	152,028	5,088,800
		152,028