Page 154 - Book-keeping for Secondary Schools Student’s Book Form One

Book-Keeping for Secondary Schools

Example 7.7
You are given the following trial balance extracted from the general ledger of Sauda as
on 30 September 2020. You are required to prepare an income statement for the year
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ending 30 September 2020, and a statement of financial position as on that date.
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Details Debit (TZS) Credit (TZS)
FOR ONLINE READING ONLY
Inventory: 1 October 2019 27,872,000
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Carriage outwards 1,407,000
Carriage inwards 2,479,000

Sales returns 1,031,800
Purchases returns 2,284,700

Purchases 126,248,100
Sales 254,868,000

Salaries and wages 41,138,000
Warehouse rent 2,479,000
Insurance 908,520

Motor expenses 1,279,700
Office expenses 276,040

Lighting and heating expenses 598,980
General expenses 164,150

Premises 61,640,000
Motor vehicle 8,978,000

Fixtures and fittings 1,273,000
Accounts receivable 28,515,200
Accounts payable 21,172,000

Cash at bank 3,421,020

Drawings 14,740,000
Capital 46,124,810
Totals 324,449,510 324,449,510

Inventory on 30 September 2020 was TZS 30,002,600
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Student’s Book Form One

Book Keeping Form 1 New 2024 FINAL.indd 146 18/10/2024 10:14