The Trial Balance of KFC at 31st December 2008 is as follows

DR CR

Capital Account 7,802

Inventory 2,700

Sales 21,417

Purchases 9,856

Rates 1,490

Drawings 4,206

Electricity 379

Free Hold Shop 7.605

Freehold Shop Depreciation 500

Receivables 2,742

Provision for Doubtful Debts 300

Payables 3617

Cash at bank 1,212

Cash in hand 66

Salary Expenses 2,100

Wages and Salaries 3704

34,848 34,848

In addition KFC provides the following information

(a) Closing inventory has been valued for account purposes at $3,060

(b) Rates includes a payment of $1,260 made on 10th April 2008 in the respect for the year to 31 March 2009

(c) An Electricity bill amounting to $132 in respect to the quater to 28 February 2009 was paid on 7 March 2009

(d) Depreciation chhaarged for the year is $190

(e) Bad debts of $200 are to be written off and provision of 5% of the remaining receivables is required.

Prepared an income statement for the year ended 31st Decemeber 2008 and the statment of financial position (balance sheet) at that date, susing an extended Trila Balanace Worksheet.

Complete the ETB by calculutation the profit or loss, using the result to balance the income statement and Statement of financial position (balance sheet) columns

	Trial Balance	Adjustments	Accured	Prepaid	Income Statement	Balance Sheet
Accounts	DR CR	DR CR			DR CR	DR CR
	$ $	$ $	$ $	$ $	$ $	$ $
Capiral Account
Inventory Opening
Sales
Purchases
Rates
Drawings
Electricity
Freehold Shop
Shop-Acc Dep
Receivables
Provision For Debts
Payables
Cash at bank
Cash in hand
Sundry Expenses
Wages & Salaries
Depreciation
Bad Debts
Inventory -B/S
Inventory -I/S
Accurals
Prepayments
Subtotal
Profit for the year
Total