The following trial balance was extracted from the books of S.Z.L Ltd on 31 December 2020....

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The following trial balance was extracted from the books of S.Z.L Ltd on 31 December 2020. Authorized share capital consisted of Sh.800,000 ordinary share capital of Kshs 1 each S.Z.L Ltd Trial Balance as at 31st December 2020 Item DR Share capital issued: Ordinary Shares as at Kshs 1 each Sales CR 675,000 1,150,000 Purchases 525,800 Premises at cost 365,000 Motor vehicle at cost 585,100 Furniture at cost 355,700 Provision for depreciation as at 1st January 2020 Premises Motor vehicle 10% Debentures 60,000 93,400 150,000 Provision for Doubtful Debts 9,000 Motor vehicle expenses 72,000 Repairs to machinery Wages and salaries Insurance Discount Allowed 86,000 51,500 48,000 63,100 Trade Receivables 210,000 Trade Payables 124,900 Stock at 1 January 2020 245,800 Bank Overdraft 65,700 Retained profit as at 31/12/2019 80,000 General reserve 135,000 Rent Income 80,000 Debenture interest 15,000 2.623.000 2.623,000 Additional information i. Closing stock at 31* December 2020 was valued at Kshs.250,000 ii. Motor vehicle expenses owing is Kshs. 13,000 iii. The payment for insurance was for 16 months upto April 2021, it is assumed that monthly rate is constant iv. A provision of doubtful debts of 5% on receivables is to be maintained v. Rent income due was Kshs 20,000 vi. Ordinary share dividends proposed 5% on the issued share capital vii. Transfer Kshs 20,000 to general reserve viii. A Corporation Tax of Kshs 50,000 is due to tax authorities ix. Provide for depreciation: motor vehicle and Furniture at a rate of 20% on cost and premises at a rate of 5% on the book value Required Prepare the following i. A Comprehensive Income Statement and Appropriation Account ii. A Statement of Financial Position The following trial balance was extracted from the books of S.Z.L Ltd on 31 December 2020. Authorized share capital consisted of Sh.800,000 ordinary share capital of Kshs 1 each S.Z.L Ltd Trial Balance as at 31st December 2020 Item DR Share capital issued: Ordinary Shares as at Kshs 1 each Sales CR 675,000 1,150,000 Purchases 525,800 Premises at cost 365,000 Motor vehicle at cost 585,100 Furniture at cost 355,700 Provision for depreciation as at 1st January 2020 Premises Motor vehicle 10% Debentures 60,000 93,400 150,000 Provision for Doubtful Debts 9,000 Motor vehicle expenses 72,000 Repairs to machinery Wages and salaries Insurance Discount Allowed 86,000 51,500 48,000 63,100 Trade Receivables 210,000 Trade Payables 124,900 Stock at 1 January 2020 245,800 Bank Overdraft 65,700 Retained profit as at 31/12/2019 80,000 General reserve 135,000 Rent Income 80,000 Debenture interest 15,000 2.623.000 2.623,000 Additional information i. Closing stock at 31* December 2020 was valued at Kshs.250,000 ii. Motor vehicle expenses owing is Kshs. 13,000 iii. The payment for insurance was for 16 months upto April 2021, it is assumed that monthly rate is constant iv. A provision of doubtful debts of 5% on receivables is to be maintained v. Rent income due was Kshs 20,000 vi. Ordinary share dividends proposed 5% on the issued share capital vii. Transfer Kshs 20,000 to general reserve viii. A Corporation Tax of Kshs 50,000 is due to tax authorities ix. Provide for depreciation: motor vehicle and Furniture at a rate of 20% on cost and premises at a rate of 5% on the book value Required Prepare the following i. A Comprehensive Income Statement and Appropriation Account ii. A Statement of Financial Position