The Company works in the Tourism industry in Mauritius. It startedoperations on 1 January 2018 and the following ledger balances appear in the books of accounts after the closing of the Final Accounts as at 31 December 2018. LEDGER BALANCES AS AT 31 DECEMBER 2018

RS 000'S Trade Debtors 2,500 Share Capital 3,500 Motor Vehicles (At Cost) 1,500 Property (at Cost) 5,000 10% Debentures 4,000 Plant & Machinery (At Cost) 2,500 Share Premium 500 Trade Creditors 3,000 Inventory 1,500 Income Tax Payable 70 Plant & Machinery (Agg. Depreciation) 475 Retained Earnings 1,000 Furniture & Fittings (At Cost) 500 Other Receivables 45 Furniture & Fittings (Agg Depreciation) 100 General Reserve 300 Motor Vehicles (Agg Depreciation) 600 Bank balance 100 Other Creditors 100 During the year to 31 December 2019, the summary of transactions is as follows: Revaluation Banking Transactions Credit Transactions Remarks Rs Rs Issue of Shares 1,000,000 Payment to Debenture Holders 400,000 Paid on 31 March 2019 Interest paid on Debenture 400,000 Paid on 31 March 2019 Property Revalued by a professional valuer 6,500,000 On 1 April 2019 Received from Trade Debtors 7,300,000 Payment to Trade Creditors 5,000,000 Expenses paid(see details below) 2,230,000 Income Tax paid 70,000 Sales 1,500,000 8,500,000 Purchases 1,450,000 8,000,000 Dividend Paid 100,000 Additional Information The Debentures were raised in April 2018 and the repayment is in 10 equal yearly instalments. The first instalment and the payment of Interest to them were made on 31 March 2019 The depreciation policy of the company is as follows: Plant & Machinery 10% on Diminishing Balance Method Furniture & Fittings 10% on Straight Line Method Motor Vehicles 20% on Straight Line Method The Company charges a full year depreciation in the year of purchase and none in the year of disposal Included in the purchases is the acquistion of an imported second-hand vehicle on 1 April 2019 for Rs 450,000 that was settled by cheque Included in the Sales is the disposal of furniture for Rs 50,000 that was settled by cheque The cost of the furniture disposed was Rs 100,000 and its aggregate depreciation was Rs 20,000 The Expenses paid during the year are made up of the following: Rs Administrative Salaries 1,200,000 Rent, Rates & Taxes 300,000 Electricity & Telephone 150,000 Printing & Stationary 50,000 Licenses & Insurances 25,000 Motor Vehicle Expenses 150,000 Salesmen Salaries 240,000 Salesmen Commission 35,000 Carriage Outwards 30,000 Audit fees 50,000 2,230,000 The Motor Vehicles were exclusively used by the Salesmen Closing Stock is valued using the FIFO method and its cost is Rs 3,800,000 and its Net Realisable Value is Rs 3,500,000 Included in the Insurances is a Motor Insurance Policy for Rs 12,000 for the period 1 April 2019 to 31 March 2020 Included in Debtors at 31 December 2018 is a Provision for Bad & Doubtful Debts of Rs100,000 Included in Carriage Outwards is an amount of Rs 10,000 paid for transporting goods from the supplier to the company's warehouse Make a Provision of 5% on Debtors for Bad & Doubtful Debts at 31 December 2019 The following bills were due but unpaid at 31 December 2019: Rs Electricity & Telephone 30,000 Rent 20,000 A Provision of Rs 60,000 is to be made for Corporate Taxation and Rs 75,000 for Audit fees Discount received of Rs 10,000 from Suppliers and Discount Allowed of Rs 15,000 to customers were not recorded in the books of accounts Dividend Proposed Rs 150,000 Required: Using an Excel spreadsheet prepare an Extended Trial balance at 31 December 2019 in the following sequence: a. Opening Trial Balance at 01 January 2019 b. Banking Transactions during the year c. Credit Transactions during the year d.Correction of Errors e. Closing Trial Balance at 31 December 2019 f. Year End Adjustments g. Profit & Loss Account h. Balance Sheet