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uestion 1-Compulsory The follewing trial balance was extracted on 31st December Ordinary Share Capital (l shares) Folder & Sons Company Ltd 2013 10% Debentures (2020)

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uestion 1-Compulsory The follewing trial balance was extracted on 31st December Ordinary Share Capital (l shares) Folder & Sons Company Ltd 2013 10% Debentures (2020) Premises at cost Equipment at cost Fixtures &Fittings at cost Motor Vehicles at cost Provision for Depreciation 70,000 240,000 125,000 75,000 65,000 32,000 18,000 10,000 445,000 Fixtures & Fittings Motor Vehicles Sales Purchases Motor Expenses Debenture interest paid Receivables 22,000 45,000 20,000 110,000 Directors Remuneration Rates Wages & Salaries Retained Profit Account Opening Inventory Light & Heat Insurance Provision for Doubtful Debts Interim ordinary dividend paid 37,000 45,000 19,000 11,000 1,042,000 1,042,000 Additional Information i) Inventory at 31st December was 70,000 ii) You are required to depreciate the following assets on a straight line basis at the indicated rates: Equipment 10% Fixtures & Fittings 20% Motor Vehicles 25% ii) Accrue for light and heat of 1,500 iv) Provide for corporation tax of 11,000 v) The provision for Doubtful Debts is to be increased by vi) Provide for outstanding debenture interest of 4,000 2,000 uestion 1-Compulsory The follewing trial balance was extracted on 31st December Ordinary Share Capital (l shares) Folder & Sons Company Ltd 2013 10% Debentures (2020) Premises at cost Equipment at cost Fixtures &Fittings at cost Motor Vehicles at cost Provision for Depreciation 70,000 240,000 125,000 75,000 65,000 32,000 18,000 10,000 445,000 Fixtures & Fittings Motor Vehicles Sales Purchases Motor Expenses Debenture interest paid Receivables 22,000 45,000 20,000 110,000 Directors Remuneration Rates Wages & Salaries Retained Profit Account Opening Inventory Light & Heat Insurance Provision for Doubtful Debts Interim ordinary dividend paid 37,000 45,000 19,000 11,000 1,042,000 1,042,000 Additional Information i) Inventory at 31st December was 70,000 ii) You are required to depreciate the following assets on a straight line basis at the indicated rates: Equipment 10% Fixtures & Fittings 20% Motor Vehicles 25% ii) Accrue for light and heat of 1,500 iv) Provide for corporation tax of 11,000 v) The provision for Doubtful Debts is to be increased by vi) Provide for outstanding debenture interest of 4,000 2,000

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