Solve both questions otherwise leave it (b) The following were the balances extracted from the books of Kimataa as on March 31, 2014:DRCash in handCash at bankPurchasesReturn inwards.WagesFuel and PowerCarriage on salesCarriage on purchasesOpening stockBuildingFreehold landMachinerySalariesMotor vehicleGeneral expensesInsuranceDrawingsSundry debtors.Amount5402,63040,6756808,4804,730320020405,76032,00010,00020,00015,0007,5003,0006005,24514,500176,580CRSalesReturn outwards(j) Balance sheet as at March 31, 2014CapitalSundry creditorsRentThe following are additional information for adjustments(a) Stock in hand on March 31, 2014, was Kshs 6,800.Required: Prepare the following final accounts.(i) Trading and profit and loss account for the period ended 31.03.2014Amount98,78050062,0006,3009,0000(b) Machinery is to be depreciated at the rate of 10% and Motor vehicle @ 20%.(c) Salaries for the month of March, 2014 amounting to Kshs 1,500 were outstanding.(d) Insurance includes a premium of Kshs 170 on a policy expiring on September 30, 2014.(e) Further bad debts are Kshs. 725. Create a provision @ 5% on debtors.(f) Rent receivable Kshs. 1,000.176,580

Name: Solve both questions otherwise leave it (b) The following were the bal
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Solve both questions otherwise leave it (b) The following were the balances extracted from the books of Kimataa as on March 31, 2014:DRCash in handCash at bankPurchasesReturn inwards.WagesFuel and PowerCarriage on salesCarriage on purchasesOpening st