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1.5 llustrations 1.5.1 The following Trial Balance has been extracted from the books of Abuluk Enterprise. TRIAL BALANCE AS AT 31ST DECEMBER, 2004 DR GHC 000 230,000 750,000 CR Stocks 1/1/04 Purchases returns Cash Bank Freehold premises General expenses Sundry debtors Sundry creditors Wages and Salaries 3,000 17,000 113.300 8,200 180,000 145.000 Discount allowed Sales Rent 31500 1,045,000 The following additional information is given i Rents accrued is $7.500,000 i Provision for depreciation is to be made on freehold ii Stock at 31/12/2004 is valued at $260.000 premises at 5%. he following trial balance was extracted from the books of Adom Wo Wim Enterprise on 31 12/2004 Dr. GHC000 GHC000 Sales 37.200 23,112 7,552 652 880 Stock 1/1/2004 Carriage Outwards Returns Inwards Returns Outwards Salaries and Wages Motor Expenses 710 1.328 1,152 2.404 Sundry Expenses Motor Vchidles Fixtures and Fittings Debtors 1.200 9.154 Bank 7.752 240 ,100 Cash 69.688 69.688 The following additional notes have been given 1. Stock at 31/12/2004 was 9.996,000 2 Rent prepaid is 157.000 Sundry expenses accrued amounted to 52.000 4. Depreciation is provided at rase of20% on cost You are required to prepare: a Income Statement for the year ended 31/12/2004 b. aStatement of Financial Position as at chat date

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