The following balances were extracted from the books of mathioya- kangema traders

The following balances were extracted from the books of mathioya- kangema traders on 1^st Jan 2015

Capital.............................. 920,000
Building ..............................300,000
Machinery ............................250,000
Debtors ...............................100,000
Creditors.............................. 200,000
Bank................................... 280,000
Stock ...................................190,000

The following transactions took place during the year ended 31^st Dec 2015.
i) Sold goods for Shs. 160,000 receiving sh. 100,000 through a cheque and balance was to be settled the following year.
ii) Sold machinery worth sh.150,000 for sh. 100,000 and payment was made through the bank
iii) Sh. 50,000 was withdrawn from the bank for office use.
Required:
Prepare Mathioya Kangema balance sheet as at 31^st Dec 2015 showing the ledger balances in the appropriate classes.

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sharon kalunda answered the question on September 3, 2019 at 08:08

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