The following balances were extracted from the books of Mutwiri Traders for the year ended 31st December 2011. ...

The following balances were extracted from the books of Mutwiri Traders for the year ended 31st December 2011.

Shs.
Gross profit ...........................76,200
Stock (31 st Dec.) .....................160,400
Cash ...................................210,120
Motor vehicle ..........................1,206,000
Capital .................................1,207,120
Equipment ...............................401,200
Furniture ................................188,800
Creditors .................................248,400
Debtors ..................................151,800
Discount received .......................52,800
Salaries ...............................24,800
Carriage outward....................... 28,800
Rent income ............................25,200
Advertising.............................. 44,400
Insurance................................ 18,800
Bank overdraft ...........................825,400

Required:
(i) Prepare a profit and loss A/C for Mutwiri Traders for the year ended 31 st Dec.2011.
(ii) Prepare a balance sheet as at 31 st Dec.2011.

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sharon kalunda answered the question on September 3, 2019 at 11:57

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