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The trial balance below relates to Kelexele Limited for the year ended 31t Decemher, 2016. Additional information: 1. Closing inventory is Ghe 500,000 2. Closing
The trial balance below relates to Kelexele Limited for the year ended 31"t Decemher, 2016. Additional information: 1. Closing inventory is Ghe 500,000 2. Closing provision for Bad debts to Ghe 50,000 . 3. Provision for depreciation is reducing balance method: 15% on Motor vehicle and 20% on equipment it is 20% 4. Dividend proposed for the year is Ghe 500,000 . 5. Corporate tax is at the rate of 25%. Required: (a) To prepare the Statement of Comprehensive Income for the year ended 31st December 2016 for Kelewele Limited. (b) To prepare the Statement of changes in equity as at year end 31s December 2016. (c) Prepare the statement of financial position of Kelewele Limited as at 31* December, 2016
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