Unit: Financial accounting
12 Questions| Trial Balance | |
| Sh."000" | |
| Issued and fully paid ordinary share capital (Sh. 10 par value) | 441,000 |
| General reserves (1 April 2015) | 429,200 |
| Retained profit (l April 201 5) | 140,000 |
| Production machinery (cost Sh.600 million) | 390,000 |
| Office equipment (cost Sh. 140 million) | 100,000 |
| Inventory(1st April 2015) | |
| Raw Materila | 46,000 |
| Finished goods | 667,000 |
| Work-in-progress | 33,000 |
| Sales | 2,400,000 |
| Trade receivables | 691,000 |
| Trade payables | 497,000 |
| Carriage outwards | 124,000 |
| Factory wages | 333,000 |
| Carriage on raw materials | 39,400 |
| Purchases of raw materials | 400,000 |
| General factory expenses | 66,000 |
| Lighting expenses | 72,000 |
| Factory power | 118,000 |
| Administrative salaries | 270,000 |
| Sales agents' salaries | 80,000 |
| Commission to sales agents | 19,000 |
| Rent | 120,000 |
| Insurance expenses | 132,000 |
| General administrative expenses | 144,000 |
| Bank overdraft | 26,800 |
| Cash in hand | 15,000 |
| Bank charges | 9,600 |
| Discounts allowed | 28,000 |
| Royalties | 37,000 |
| Sh."000" | |
| Raw materials | 60,000 |
| Work-in-progress | 25,000 |
| Production machinery | 10% per annum on cost |
| Office equipment | 10% per annum on reducing balance |
Want to join the discussion?
Log in to post comments and interact with tutors.
Login to Comment