Question: Section A-Compulsory question Question 1 Fred's Fries is a catering business. The business has reached the end of its third year of trading and

Section A-Compulsory question Question 1 Fred's Fries is a catering business. The business has reached the end of its third year of trading and Fred has asked his sister, Dora, to help him to produce some accounts. She has been writing up his books throughout the year and these have been kept correctly. Unfortunately, Dora had an accident and was admitted to hospital just before she started work on the financial statements for the year ended 30 April 20X1. Fred remembers that you have been taking an accounting course and asks you to help him out. Dora's latest trial balance contained the following items: leaseholds shop premises (cost 1.5.X0) 300,000 Accumulated Depreciation on lease (1.5.X0) 60,000 Fixtures and fittings (cost 1.5.X0) 80,000 Accumulated Depreciation on fixtures and fittings (1.5.X0) 16,000 Inventory (30.4.X0) 1,000 Receivables (30.4.X1) 22,500 Prepaid Insurance 25,000 Payables (30.4.X1) 18,000 Unearned Sales 5,000 Loan secured on Fred's house 175,000 Balance per cash book (30.4.X1) 14,500 Capital (1.5.X0) 124,000 Sales 123,000 Purchases $7,000 Salaries & Wages 10,000 Electricity Sundry Expenses 6,000 5,000 21Page

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