Mr. Ancentus Okwengo is the sole proprietor of a small business. The following trial balance was extracted from his books at 31 March 2000.
|
|
Sh. '000'
|
Sh. '000'
|
|
Capital
|
|
4,896
|
|
Freehold land and buildings (at cost)
|
3,600
|
|
|
Plant and machinery at cost
|
3,480
|
|
|
Provision for depreciation - plant and machinery
|
|
1,680
|
|
Delivery vans
|
960
|
|
|
Provision for depreciation - delivery vans
|
|
672
|
|
Loose tools at valuation on 1 April 1999
|
288
|
|
|
Stocks 1 April 1999
|
2,232
|
|
|
Purchases
|
4,440
|
|
|
Loose tools
|
192
|
|
|
Sales
|
|
15,840
|
|
Wages and Salaries
|
5,288
|
|
|
Rates and Insurance
|
384
|
|
|
Repairs and maintenance of buildings
|
240
|
|
|
Sales expenses including vehicle running costs
|
344
|
|
|
Electricity and power
|
1,440
|
|
|
Industrial training levy
|
72
|
|
|
Administration expenses
|
672
|
|
|
Provision for doubtfuldebts
|
|
240
|
|
Debtors and Creditors
|
1,984
|
1,928
|
|
Drawings
|
480
|
|
|
Bank
|
|
864
|
|
Cash in hand
|
24
|
_____
|
|
|
26,120
|
26,120
|
Additional information:
1. Closing stock on 3 1 March 2000 was Sh.2, 008,000. Loose tools at valuation Sh.384, 000.
2. Provision is to be made for the following amount owing on 3 1 March 2000: Electricity and power Sh.192,000.
3. Payments in advance on 31 March 2000 were as follows: Van licenses Sh.2,520 and rates Sh.13,800.
4. Depreciation on plant and machinery and delivery vans is to be provided at the rate of 20% and 25% respectively on cost at the end of the year.
5. Bad debts amounting to Sh.26,000 are to be written off and the provision for doubtful debts is to be 10% of trade debtors.
Required:
A ten-column worksheet for the year ended 31 March 2000.