Page 165 - Accountancy_F5

Total income 21,440 10,990 32,430
Less: Expenses:
- Salaries 4,500 3,200 7,700

- Administrative expenses 1,440 960 2,400
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- Carriage outwards 2,200 960 3,160
- General expenses 3,200 1,800 5,000
- Increase in provision for bad debts 50 50
- Provision for depreciation-furniture 150 110 260
- Manager’s commission 360 360
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Total expenses 11,540 7,390 18,930
Net profit 9,900 3,600 13,500

Mr. Juma

Statement of financial position as at 31 December 2024
st
Head Office Branch Combined
TZS TZS TZS
“000” “000” “000”
ASSETS:
Non-current Assets
Furniture 1,500 1,100 2,600

Less: Accumulated depreciation 650 460 1,110
850 640 1,490
Current assets

Closing inventory 15,240 6,570 21,810
Accounts receivable 7,000 2,880 9,880

Less: Provision for bad debts 650 180 830
Cash in transit 2,400 2,400
Branch current account 8,160
Bank 600 600
Total assets 33,600 9,910 35,350

CAPITAL AND LIABILITIES:
Capital 18,000 18,000
Add: Net profit (9,900+3,600) 13,500 13,500
31,500 31,500
Less: Drawings 3,700 3,700

Student’s Book Form Five
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