Page 157 - Book-keeping for Secondary Schools Student’s Book Form One

Basic financial statements

Exercise 7.3

The following trial balance was extracted from the books of Tyson on 30 April 2021.
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Prepare his income statement for the year ending 30 April 2021 and the statement of
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financial position as at that date.
FOR ONLINE READING ONLY
Particulars Dr (TZS) Cr (TZS)

Sales 154,320,000
Purchases 75,867,200
Inventory 1 May 2020 16,531,200
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Carriage outwards 2,391,200
Carriage inwards 3,880,800
Sales returns 7,732,800

Purchases returns 6,426,000
Salaries and wages 11,336,400
Motor expenses 16,396,800
Rent 18,547,200
Rates 6,144,000
Sundry expenses 13,442,400
Motor vehicle 34,880,000
Fixture and fittings 9,920,000
Accounts receivable 17,492,400
Accounts payable 15,654,000
Cash at bank 29,651,200

Cash in hand 1,144,000
Drawings 14,460,000
Capital 103,417,600
Total 279,817,600 279,817,600

Inventory on 30 April 2021 was TZS 17,997,600.
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Book Keeping Form 1 New 2024 FINAL.indd 149 18/10/2024 10:14