QUESTION THREE The following were extracted from the books of NJOKA as at 30th September 2016. SH Cash in Hand Cash in Bank Inventory, 1st September 2016 Receivables Payables Returns Inwards Sales Purchases Capital Salaries Water and Electricity Postage Drawings Inventory, 30th September 2016 Furniture & Fittings Motor Van Loan (ADB Bank) Rent Received Office Rent REQUIRED: 1) Prepare a Trial Balance from the above balances. (8 Marks) 2) Prepare the statement of Comprehensive income for the month of September. (9 Marks) (b) 3) Prepare the statement of Financial Position for as at 30th September 2016. (8 Marks) Ordinary Share Capital 8% Preference Share Capital The following appeared in the ledger PORTO Manufacturing Company Ltd after the preparation of the Income Statement. Finished Goods Inventory Fixed Assets at cost Receivables Payables 12,000 110,000 210,000 80,000 100,000 5,000 560,000 205,000 149,000 40,000 6,000 2,000 9,000 Provision for Depreciation - Fixed Assets Reserve for increased replacement of Fixed Assets Interim Ordinary Dividend paid Work-In-progress Raw Material stock 135,000 75,000 350,000 300,000 12,000 17,000 Bank Overdraft Profit & Loss Account balance 1" January 2016 Preference Dividend paid 30th June 2016 Net Profit for 2016 REQUIRED: (i) (ii) SH. 100,000 40,000 29,000 141,000 55,200 15,000 The following additional information was provided: 1) The Authorized Capital of the business is 300,000 Ordinary Shares of Sh.0.50 each and 75,000 8% preference shares of Sh.1.00 each. 2) A final dividend of Sh.0.625 per ordinary share is proposed. 3) The Reserve for Increased Replacement costs of Fixed Assets is to be increased to Sh.20,000. 7,500 59,200 40,400 36,000 26,000 10,000 4,000 1,600 35,700 A profit and Loss Appropriation Account for the year to 31st December 2016. (10 Marks) Statement of Financial position as at the same date. (9 Marks)