Example 5: Below is the balance sheet of Yinka Babatunde as at 31 Marth Yinka Babatunde Balance Sheet as at 31st March, 1984 Fixed Assets: 23,434 Freehold Prem ses Plant and Machinery Motor Vans Fixtures and Fittings Current Assets: Stock Debtors Cash Capital Current Liabilities Creditor's 10120 1840 8.000 1.200 1.752 1,884 24,876 24,876 0 1st Apr. 1984 bal. b/F Customers Sales Additional Capital The record of Yinka's cash transactions for the year was as shown below. 100 Suppliers 8,552 Salaries 3,726 General expenses 400 New machinery 1,254 Drawings Balance c/f 31/3/85 12,778 7,908 1,486 320 1,072 1.738 12,778 At the end of the trading period 31/3/85, the amount due to creditors was $1,632, debtors amounted to $1,836 and stock was valued at $1,708. plant and machinery including additions during the year. (1) $200 is to be provided for doubtful debts. (i) The sum of 64 for goods withdrawn by Yinka You are required to prepare: Trading and Profit was included in the debtors' balance on 31st March, 1985. (iv) The motor vans were revalued at 7,500. Allworkings and calculations of Total Purchases and Total sales must be shown and Loss Accounts for the year ended 31/3/85 and a balance sheet as at that date taking into consideration the following adjustments: 0 Depreciation of 10% is to be written off the