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working plz 2. Baraka runs a wholesale business in Limuru. His trial balance for the year ended 31/12/2016 is as follows: Cr. Kshs. 1000 Dr.
working plz
2. Baraka runs a wholesale business in Limuru. His trial balance for the year ended 31/12/2016 is as follows: Cr. Kshs. 1000 Dr. Kshs. 1000 8,000 6,000 2,500 52,000 1.000 2,800 Land & buildings Motor vehicle Stock 1/1/2016 Sales Purchases Returns Discounts Fixtures Debtors Rent Creditors Electricity Bad debts Carriage inwards General expenses Carriage outwards Salaries & wages Drawing Capita 28.000 2,000 1,300 4,000 5,000 200 4,000 300 2,000 200 3,000 300 4,000 2,000 19,000 68,800 68,800 Additional information: i) Closing stock amount to Shs.2,0XX0,000. i) Depreciation is provided on motor vehicles and fixtures at 15% on cost. im) General expenses in arrear amount to Shs.200,000. iv) Prepaid clectricity amount to Shs.50,000, ) Salaries & wages paid in advance amount to Shs.160,000 Required: D) Baraka Income Statement for the year end 31/12/2016. (10marks) 1) Statement of financial position as at 31/12/2016 (10marks)Step by Step Solution
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