Nyamangu ltd CO. from 31 Dec19.1
- 4 The Following Trial Balance Was Extracted From The Books Of Nyamangu Ltd Co From 31 Dec19 1 Additional Information 1 (45.51 KiB) Viewed 20 times
a) Stock on 31 Dec 19.1 Shs. 383,000
b) Depreciation: 10% on cost of furniture and 20% on the value
of motor vehicles.
c) The authorized share capital of the company consists of 200
ordinary shares of shs. 10 each.
d) Adjust the provision for bad debts of 2% of debtors.
e) Directors propose to:
i) Transfer shs. 80,000 to General Reserve.
ii) Write off 25% of goodwill and 5% of Formation Expenses.
iii) Pay a final dividend of 10%.
f) Taxation is to be accrued at Kshs. 140,000.
Ordinary Share Capital 10% Debentures Share Premium General Reserve Profit & Loss A/C, 1 Jan 19.1 Goodwill Stock, 1 JAN 19.1 Purchase an sales Discounts Salaries Rates & Insurance Office expenses Directors Remuneration Interim dividend (paid on 1.7.19.1) Debtors and creditors Provision for bad debts Cash at Bank Premises Fumiture and fittings Motor Vehicle Audit fees Rent Income Formation Expenses DR (SHS) CR (SHS) 1,500,000 100,000 80,000 100,000 162,000 250,000 279,000 2,218,000 3,197,000 34,000 285,000 64,000 161,000 50,000 75,000 240,000 233,000 2,800 127,800 1,000,000 30,000 45,000 106,200 55,000 205,000 0 5,555,000 5,555,000