Financial Statements of a Sole Proprietorship – Practice Question 08

This question has been extracted from the year 2016 Business and Accounting Studies  Prototype paper. This is question number 7 (iii).

Question

The trial balance of Sapumal’s business as at 31.12.2015 is below.

Additional information

1. The cost of stock as at 31.12.2015 is Rs.12 000
2. 2 000 of debtors should be written off as bad debts.
3. Buildings and equipment should be depreciated at 10% on the cost

Answer