The accountant of Zul Co has prepared the following list of account balances as at December MUR c ordinary shares fullY PAID debentures SecuredRetained Earnings General reserve Land and buildings costPlant and Machinery costAnnual DepreciationBuildings Plant and Machinery Inventory Sales Purchases Ordinary Dividend Debentures Interest Wages and Salaries Light and Heat Sundry Expenses Suspense account Trade accounts receivable Trade accounts payable Cash NOTE:A Sundry Expenses include MUR paid in respect of insurance for the yearending  September  Light and heat does not include an invoice at MUR for electricity for the three months ending  January  which waspaid in February B The suspense account is in respect of the following items:MUR Proceeds from issue at  ordinarysharesProceeds from sales of plant  

 

 C The property was acquired some years ago. The buildings element at the costwas estimated at MUR  and the estimated useful at the assets wasfifty years at the time of purchase. As at  December  the property is tobe revalued at MUR D The plant which was sold had cost MUR  and had a carrying amountof MUR  as on  MUR  depreciation is to be chargedon Machinery for E The management wish to provide for: I. Debenture interest due. A transfer to general reserve at MUR III. Audit fee of MUR F Inventory as at  December  was valued at MUR costGTaxation is to be ignored.

REQUIRED: Prepare the financial statements of Zul Co as at  December  You do notneed to produce note to the statements