Answer Happy

mestion 1 Hellios Limited has prepared the following trial balance as at December 31, 2021 ot yet answered Marked out of 50.00 P Flag question 3500 Accounts Sh.'000' Sh.'000 Land 260,000 Building 150,000 Plant and equipment 120,000 Motor vehicles 32,000 Provision for depreciation: Building 20,000 :Plant and equipment 74,000 Motor vehicles 16,800 Inventory-Jan 01,2021 74,000 Accounts receivables/payables 122,550 99,880 Bank Purchases/Sales 134,630 349,760 Returns 19,900 4,880 Discounts 3,200 6,850 Administration expenses 22,180 Selling expenses 6,900 12% Bank Loan -For 10 years 100,000 Ordinary shares @sh. 100 180,000 12 %Preference shares @sh.100 20,000 Retained earning 69,690 945,360 945,360 Additional information: 1. Inventory as at December 31, 2021 was sh. 124,875,000 2. As at December 31, 2021, the following balances were relevant: Accrued expenses Prepaid expenses Administration expenses Sh. 25,000,000 Sh. 2,000,000 Selling expenses Sh. 15,300,000 Sh.8,000,000 3. Depreciation is to be provided as follows Asset Rate per annum TE to search o n 2 30" lips 15 16 0 4 - + 10 # 3 $ 4 % 5 * 6 & 7 8 9 o
945,360 945,360 Additional information: 1. Inventory as at December 31, 2021 was sh. 124,875,000 2. As at December 31, 2021, the following balances were relevant; Accrued expenses Prepaid expenses Administration expenses Sh. 25,000,000 Sh. 2,000,000 Selling expenses Sh. 15,300,000 Sh.8,000,000 3. Depreciation is to be provided as follows Asset Rate per annum Building 4% on cost Plant and equipment 10% on cost Motor vehicles 25% at reducing balance 4. Provide doubtful debt at 10% of Accounts receivable 5. A sales and purchase invoice of Sh. 50,000 and Sh. 80,000 had been recorded twice 6. The company's directors proposed that the preference share dividend be fully paid and a final dividend of sh 5.00 per ordinary shares be paid. 7. The company paid the interest on the loan for the year ended December 2021 on March 21, 2022. You are required to prepare and upload the following: a) show your workings in ledgers format (15 marks) b) Adjusted Trial balance (15 marks) c) Statement of Income (12 marks) d) Statement of financial position (13 marks) e) Statement of changes in equity (5 marks) TOTAL 60 MARKS В І 02 Type here to search 2 30°C lige ID 144 > 2 * 3 $ 4 % 5 & 6 7 00 8 9 O w الالالال/= E R O olllloll 1