The following trial balance was extracted from the Mighty Wholesale Company's books 30 April 2010 at Dr $000 $000 Revenue (Sales) Ordinary goods purchased (Purchases) Property (Buildings) at cost 1600 946 1490 Warehouse fittings at cost Inventory (Stock) at 1 May 2009 Capital 12% loan repayable 2015 Wages Provisions for de preciation at 1 May 2009 Property (Buildings) Warehouse fittings Trade receivables (Debtors) Trade payables (Creditors) Cash and cash equivalents (Bank) Distribution expenses Business rates 348 124 1400 100 160 320 197 360 92 48 43 50 Insurance 30 Advertising Drawings Loan interest 79 25 6 3709 3709 Additional information: Inventory (stock) at 30 April 2010 cost $230 000. This includes inventory (stock) costing $20 000 which has a net realisable value of $9000 1 2 Warehouse fittings were sold during the year. The proceeds of $10 000 were debited to the bank account and credited to the property (buildings) at cost account. No other entry has been made regarding this transaction. The fittings so ld had cost $52 000 and the total depreciation charged to them by 1 May 2009 amounted to $41 000. No depreciation is charged in the year of disposal. 3 Depreciation is to be provided for as follows: Property (buildings) Warehouse fittings 2% on cost 25% reducing (diminishing) balance Other payables (accruals) at 30 April 2010 are: $12 000 $5 000 ? (The loan was taken out in 2005) Wages Distribution expenses Loan interest Other receivable (prepayment) at 30 April 2010 is: 5 $2000 Insurance The following trial balance was extracted from the Mighty Wholesale Company's books 30 April 2010 at Dr $000 $000 Revenue (Sales) Ordinary goods purchased (Purchases) Property (Buildings) at cost 1600 946 1490 Warehouse fittings at cost Inventory (Stock) at 1 May 2009 Capital 12% loan repayable 2015 Wages Provisions for de preciation at 1 May 2009 Property (Buildings) Warehouse fittings Trade receivables (Debtors) Trade payables (Creditors) Cash and cash equivalents (Bank) Distribution expenses Business rates 348 124 1400 100 160 320 197 360 92 48 43 50 Insurance 30 Advertising Drawings Loan interest 79 25 6 3709 3709 Additional information: Inventory (stock) at 30 April 2010 cost $230 000. This includes inventory (stock) costing $20 000 which has a net realisable value of $9000 1 2 Warehouse fittings were sold during the year. The proceeds of $10 000 were debited to the bank account and credited to the property (buildings) at cost account. No other entry has been made regarding this transaction. The fittings so ld had cost $52 000 and the total depreciation charged to them by 1 May 2009 amounted to $41 000. No depreciation is charged in the year of disposal. 3 Depreciation is to be provided for as follows: Property (buildings) Warehouse fittings 2% on cost 25% reducing (diminishing) balance Other payables (accruals) at 30 April 2010 are: $12 000 $5 000 ? (The loan was taken out in 2005) Wages Distribution expenses Loan interest Other receivable (prepayment) at 30 April 2010 is: 5 $2000 Insurance