+ ** + *** ++ * **+ SECTION B QUESTION 1 The trial balance of MAAME KYEI Enterprise at Dec 31, 2015 was as follows: Gh Gh 18,400 Inventory at Jan 1, 2015... Purchases... 60,080 Purchase returns... 240 Cash in hand... 13240 Cash at bank... 10,084 Land and building at cost... 15,440 Electricity... 836 Printing, stationery and advertising... 112 Accountancy charges... 656 Provision for doubtful debts... 1,400 Sundry receivables... 13000 Sundry payables... 11,868 Wages... 10,700 Salaries... 3,500 Bad debts... 900 Capital account at Jan 1, 2015... 45,860 Drawings... 3,000 Discount allowed... 2,520 Discount received... 1,840 Sales... 83,580 Office furniture at cost... 2,500 Provision for depreciation on office furniture 500 Rent, rates and insurance... 1,600 Sales returns... 220 145.288 145.288 * ** + The following matters are to be taken into account: Inventory at Dec 31, 2015, Gh20,800. (ii) Rent accrued due Gh200. (iii) Insurance paid in advance Gh80. (iv) Provide for depreciation on: office furniture Gh125. (v) Advertising outstanding Gh88 and stationery prepaid Gh60 Required: Prepare for Maame Kyei Enterprise: (a) Income statement for the year ended Dec 31, 2013; and (15 marks) (b) A statement of financial position as at Dec 31, 2013 (10 marks) (Total =25 marks)