Credit notes issued by a firm will be entered in its

The following is a Trial Balance extracted from the books of a sole proprietor, S.M. Nondo, as at 31st ​December 1999. S. M. NONDO Balance sheet as at 31st ​December 1999 DR. CR. NAME OF ACCOUNT Shs. Shs. Stock 1st ​January 1999 50,000 Freehold Premises 240,000 Bills Receivable 30,000 Purchases 280,000 Salaries and Wages 35,000 Sales 520,000 Fixtures and Fittings 25,000 Discount Allowed 7,500 Discount Received 4,500 Plant and Machinery 140,000 Rates 5,600 Advertising 10,400 Insurance 3,800 General Expenses 7,200 Provision for Bad Debts 1,800 Sundry Debtors 60,000 Bills Payable 15,000 Sundry Creditors 43,000 Cash in Hand 2,400 Bank Overdraft 18,600 Drawings 6,000 Capital Account 300,000 902,900 902,900 The following additional information is provided: (a) Make a Provision for depreciation of plant and machinery at 10% p.a. and fixtures and fittings at 15% p.a. (b) Increase the provision for bad debts to an amount equal to 4% of sundry debtors. (c) Prepaid insurance amounts to 500/= (d) Rates accrued 400/= (e) Closing stock was 60,000/= (f) During the year Mr. S.M. Nondo took goods worth 2,000/= for his personal use. Required: Prepare trading and profit and loss account for the year ending 31st ​December, 1999 and a balance sheet as at that date.

Boresha ili kuona majibu ya mfano.

Match the responses in List B with the statements in List A by writing the letter of the correct response beside the item number.

Boresha ili kuona majibu ya mfano.

Write short notes on the following terms:

Boresha ili kuona majibu ya mfano.

On 1st of January, 2000 Masantula started up a new business. During the year ended 31st December, 2000 the following debtors were found to be bad and were written off on the dates indicated below: Shs. 10.03.2000 Shelukindo 88,000 30.05.2000 Shemaombe 51,200 31.08.2000 Shekidele 9,600 On 31st December, 2000, the schedule of debtors amounted to shs. 5,480,000 and after an examination it was decided to make a provision for doubtful debts of shs. 176,000. Prepare the:

Boresha ili kuona majibu ya mfano.

Mvumi Consumers Cooperative shop has three departments (Butter and eggs, Poultry and beef, and Bottled goods). The members desired to know the performance of each department for the financial year ending 31st December, 1983. From the following list of balances you are required to prepare a Departmental Trading and Profit and Loss account in columnar form. NOTE: With the exception of the following, expenses are to be apportioned equally amongst the departments. (a) Delivery expenses, proportionate to sales. (b) Commission, 2% of sales. (c) Salaries and wages, and Insurance, in the proportional of 6:5:4 respectively. (d) Discount received, 1.5% of purchases. (e) Other expenses like depreciation, rent and rates, advertising, as well as administration and general expenses should be allocated equally in all departments.

Boresha ili kuona majibu ya mfano.