Mr. Ancentus Okwengo is the sole proprietor of a small business. The following trial balance was extracted
Question:
Mr. Ancentus Okwengo is the sole proprietor of a small business. The following trial balance
was extracted from his books at 31 March 2000.
Additional information:
1. Closing stock on 3 1 March
2000 was Sh.2, 008,000.
Loose tools at valuation
Sh.384, 000.
2 .Provision is to be made for the following amount
owing on 3 1 March 2000: Electricity and power
Sh.192,000.
3. Payments in advance on 31 March
2000 were as follows: Van licenses
Sh.2,520 and rates Sh.13,800.
4. Depreciation on plant and machinery and delivery vans is to be provided at the rate of
20% and 25% respectively on cost at the end of the year.
5. Bad debts amounting to Sh.26,000 are to be written off and the provision for
doubtful debts is to be 10% of trade debtors.
Required:
A ten-column worksheet for the year ended 31 March 2000.