The following trial balance was extracted from the books of AUGASTINE at31“ December 2021. All figures in thousands of shillings.DrCrSh(000)Sh(000)Salaries and wagesRent and ratesSalesPurchases4,80030025,60016,700Stock 1 January 19-34,350Insurance150Motor expensesGeneral expensesPremisesMotor vehiclesDebtorsCreditorsBankCapitalDrawings42028015,0002.0004,3203,14084023,3202,90052.06052.060The following additional information was provided at 31“ December 2021:1. Stock Sh4,5902. Rates prepaid Sh403. General expenses owing Sh304. Insurance prepaid Sh40.REQUIRED(a) Prepare the Income statement for the year ended 31* Dec 2021(b) Statement of Financial Position as at the same date

An income statement is a financial statement that shows you the company's income and expenditures.…

The following trial balance was extracted from the books of AUGASTINE at 31" December 2021. All figures in thousands of shillings. Dr Cr Sh(000) Sh(000) Salaries and wages Rent and rates Sales 4,800 300 25,600 Purchases Stock 1 January 19-3 16,700 4,350 Insurance 150 Motor expenses 420 General expenses Premises Motor vehicles Debtors Creditors Bank Capital Drawings 280 15,000 2.000 4,320 3,140 840 23,320 2,900 52,060 52,060 The following additional information was provided at 31" December 2021: 1. Stock Sh4,590

The following trial balance was extracted from the books of AUGASTINE at 31" December 2021. All figures in thousands of shillings. Dr Cr Sh(000) Sh(000) Salaries and wages Rent and rates Sales 4,800 300 25,600 Purchases Stock 1 January 19-3 16,700 4,350 Insurance 150 Motor expenses 420 General expenses Premises Motor vehicles Debtors Creditors Bank Capital Drawings 280 15,000 2.000 4,320 3,140 840 23,320 2,900 52,060 52,060 The following additional information was provided at 31" December 2021: 1. Stock Sh4,590

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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