Page 161 - Book-keeping for Secondary Schools Student’s Book Form One
P. 161
Basic financial statements
3. From the following Nzowa’s trial balance, prepare her income statement for the
year ending 31 December 2020 and a statement of financial position as on that date.
st
Particulars Dr (TZS) Cr (TZS)
Opening inventory 22,624,000
FOR ONLINE READING ONLY
Carriage inwards 5,580,000
Purchases returns 5,796,000
Sales returns 3,690,000
Carriage outwards 3,600,000
Purchases 213,732,000
Sales 334,800,000
Salaries and wages 69,516,000
Rent and rates 5,472,000
Insurance 2,404,000
Motor expenses 11,952,000
Office expenses 3,888,000
Lighting expenses 2,988,000
General expenses 9,652,000
Premises 115,000,000
Motor vehicles 32,400,000
Fixtures and fittings 6,300,000
Accounts receivable 60,128,000
Accounts payable 51,158,000
Cash at bank 28,676,000
Drawings 21,600,000
Capital 227,448,000
619,202,000 619,202,000
The inventory on 31 December 2020 was TZS 58,920,000.
st
4. The following trial balance was extracted from the books of Bwiikizo on 31 May
st
2021. Prepare his income statement for the year ending 31 May 2021 and the
st
statement of financial position as on that date.
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