SOLUTION 1

EXTENDED TRIAL BALANCE AS AT 30 APRIL 2008

Share capital
Profit and Loss Account
Stock Opening
Purchases
Returns outwards
Discount Allowed
Discount Received
Sales

ORIGINAL TRIAL BALANCE

DR
CR
N
N
1,000,000
5,648,800
1,215,900
15,444,500
257,250
114,300
412,600
33,425,800

Electricity
Rent
Commission Sales
Selling and distribution expenses
Admin Expenses
Finance charges: Bank charges
Interest on loan
Loan XYB Bank

750,300
1,249,200
334,258
4,426,666
3,876,222
1,671,290
2,100,000

Debtors and prepayments

Creditors and accruals

4,228,214

6% Debentures
Fixed assets land
- Building
- Motor vehicle
- Equipment
Provision for depreciation
- Building
-

ADJUSTMENTS
DR
CR
N
N

(iv)40,500
(i) 832,800

10,000,000
875,000

(i) 832,800

2,000,000

(iv)
160,500

525,000
4,252,000
3,000,000
1,774,800

ADJUSTED TRIAL BALANCE

DR
CR
N
N
1,000,000
5,648,800
1,215,900
15,444,500
257,250
114,300
412,600
33,425,80
0
790,8000
416,400
334,258
4,426,666
3,876,222
1,671,290
2,100,000
10,000,00
0
5,061,014
1,035,500
2,000,000
525,000
4,252,000
3,000,000
1,774,800

1,000,000

Motor vehicle

1,442,300

- Equipment
Provision for doubtful debt
Closing Stock (Balance sheet )
Bad and doubtful debt
Depreciation
Interest on debenture

234,500

(iii)
212,600
(iii)
600,000
354,960
(ii) 42,822
(ii)42,282
(iii) 1,167,560
(iv)120,0
00

1,212,600
2,012,300
589,460
42,822
42,282
1,167,560
120,000

50,647,450

50,647,450

2,203,142

(44 ticks at mark each =11 marks

2,203,142,

52,017,792

52,017,79
2