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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![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
Purchases
4,800
300
25,600
16,700
Stock 1 January 19-3
4,350
Insurance
150
Motor expenses
General expenses
Premises
Motor vehicles
Debtors
Creditors
Bank
Capital
Drawings
420
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
2. Rates prepaid Sh40
3. General expenses owing Sh30
4. 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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F79c41527-60be-422f-9aac-e112e8dde1c0%2F8de5d408-1b2c-4fe4-bbec-3f59c93347fb%2Fbjp2oyh_processed.png&w=3840&q=75)
Transcribed Image Text: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
Purchases
4,800
300
25,600
16,700
Stock 1 January 19-3
4,350
Insurance
150
Motor expenses
General expenses
Premises
Motor vehicles
Debtors
Creditors
Bank
Capital
Drawings
420
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
2. Rates prepaid Sh40
3. General expenses owing Sh30
4. 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
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