Question

QUESTION FOUR The following information was extracted from the ledger accounts of T. Sekoati Chambers on the 31 March 2021: Office furniture M10,000 Computer equipment M25,000 Clients control M15,500 Business bank M12,300 Creditors control M 9,900 Capital: T Sekoati M35,000 Drawings: T Sekoati M11,000 Loan M25,400 Fees M80,000 Printing & Stationery M 3,800 Rent (paid) M42,000 Telephone & internet M 1,500 Insurance M 1,800 Salaries & Wages M25,000 Car fuel & charges M 2,400 Additional information: 1. Office furniture, which was acquired on 1 April 2020, is to be depreciated at 10% per annum on a straight-line basis. 2. Computer equipment, also acquired on 1 April 2020, is to be depreciated at 20% on a declining balance basis. 3. The rent of M42,000 includes rent for the months of April and May 2021. You are required to: 1. Prepare a trial balance from the above information, taking into account the additional information provided. 8 2. Prepare an income statement and a balance sheet for the year ending 31March 2021. [25 MARKS]

          QUESTION FOUR
The following information was extracted from the ledger accounts of T. Sekoati
Chambers on the 31 March 2021:
Office furniture
M10,000
Computer equipment
M25,000
Clients control
M15,500
Business bank
M12,300
Creditors control
M 9,900
Capital: T Sekoati
M35,000
Drawings: T Sekoati
M11,000
Loan
M25,400
Fees
M80,000
Printing & Stationery
M 3,800
Rent (paid)
M42,000
Telephone & internet
M 1,500
Insurance
M 1,800
Salaries & Wages
M25,000
Car fuel & charges
M 2,400
Additional information:
1. Office furniture, which was acquired on 1 April 2020, is to be depreciated
at 10% per annum on a straight-line basis.
2. Computer equipment, also acquired on 1 April 2020, is to be depreciated
at 20% on a declining balance basis.
3. The rent of M42,000 includes rent for the months of April and May 2021.
You are required to:
1. Prepare a trial balance from the above information, taking into account
the additional information provided.
8
2. Prepare an income statement and a balance sheet for the year ending
31March 2021.
[25 MARKS]

QUESTION FOUR
The following information was extracted from the ledger accounts of T. Sekoati
Chambers on the 31 March 2021:
Office furniture
M10,000
Computer equipment
M25,000
Clients control
M15,500
Business bank
M12,300
Creditors control
M 9,900
Capital: T Sekoati
M35,000
Drawings: T Sekoati
M11,000
Loan
M25,400
Fees
M80,000
Printing Stationery
M 3,800
Rent (paid)
M42,000
Telephone internet
M 1,500
Insurance
M 1,800
Salaries Wages
M25,000
Car fuel charges
M 2,400
Additional information:
1. Office furniture, which was acquired on 1 April 2020, is to be depreciated
at 10% per annum on a straight-line basis.
2. Computer equipment, also acquired on 1 April 2020, is to be depreciated
at 20% on a declining balance basis.
3. The rent of M42,000 includes rent for the months of April and May 2021.
You are required to:
1. Prepare a trial balance from the above information, taking into account
the additional information provided.
8
2. Prepare an income statement and a balance sheet for the year ending
31March 2021.
[25 MARKS]

Added by Diana H.

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