QUESTION 2 (25 Marks) A. The following wore the balances extracted from the book of...
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QUESTION 2 (25 Marks) A. The following wore the balances extracted from the book of Johnson Ltd on 30 September 2015 Capital Drawings Plant & Machinery Delivery Vehicle Debtors Creditors Purchase Sales Salaries & wages Cash at bank Repairs Opening Stocks Rent Training expenses Bill Payable Electricity Carriage inward 19,000 700 12,000 2.600 3,600 2,600 2.000 4,200 1,600 2.600 190 1,600 450 150 2,350 500 160 Closing stock was 1,600 Depreciation of the fixed assets on straight line: Plant & Machinery 10%, Delivery Vehicle 15% Required: (10marks) a.) Prepare Income Statement for the year ended 30 September 2019 b) Prepare statement of financial position as at 30 September 2013 (10 marks)
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