Question 1 The following Trial Balance is extracted from the books of Makororo Pichery LTD as at 31 December 2021 Debit

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Question 1
The following Trial Balance is
extracted from the books of Makororo Pichery LTD as at 31 December
2021
Debit
Credit
N$
N$
Inventory at 1 January 2021
124 000
Administrative expenses
245 800
Building at cost at 1 January 2021
1 200 000
Issued Share Capital
200 000
Accumulated depreciation Trucks 1January 2021
126 000
Purchases
1 248 600
Revenue
2 146 300
Accumulated depreciation Fixtures & fitting 1 January
2021
214 600
Long term loan
350 000
Income tax
23 000
Trade receivables
362 000
Trade payables
145 200
Accumulated depreciation building 1 January 2021
320 000
Trucks at Cost at 1 January 2021
246 000
Allowance for doubtful debts
11 400
Revaluation surplus
42 000
Current tax payable
23 000
Returns
6 000
Bank
10 000
Fixtures & fittings at Cost at 1 January 2021
86 400
Distribution cost
242 000
Retained earnings at 1 January 2021
589 300
4 173 800
4 173 800
The following information, based on
your investigations, has also come to your attention:
Fixtures & fittings 15% straight
line on Cost
Trucks 25% reducing balance
Depreciation for the year is charged in
full in the year of purchase and none in the year of sale
2021. While the transaction was
correctly recorded in the firm’s bank account, the ‘Income Tax’
account was debited by mistake. The income tax amount for 2021 is
estimated at N$ 28,000.
Required:
2019?