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As a student of accounting, you have been contacted by Alhaji Imoro, owner of Dogo...

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Accounting

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As a student of accounting, you have been contacted by Alhaji Imoro, owner of Dogo Yaro Enterprise, a sole proprietorship dealing in 'fula' 'wagashi' and 'pinkaso at Zongo to help prepare his business' final account for the year ending 31/12/2018. Alhaji Imoro has admitted that he does not keep full set of accounting books. After a thorough check on his books you have obtained the following information about his business: a. No record of sales has been kept (most of which is usually on credit). A payment of GH61,500 (GH48,000 by cheque) has been received from a customer for credit sale earlier. b. A total of GH31,600 was paid to suppliers during the period by cheque. c. Expenses paid during the period (by cheque): rent GH3,800; general expenses GH310; rent (by cash) GH400 d. Alhaji Imoro took GH250 on a weekly basis as drawings. Additional information on Dogo Yaro Enterprise are as follows: 31.12.2018 GH 5,500 31.12.2017 GH Trade receivables 6,600 Trade payables 1,600 Rent owing Bank 5,650 Cash 320 Inventories 6,360 2,600 350 17,940 420 6,800 Dogo Yaro Enterprise's only non-current asset was some fixtures valued at 31/12/2017 at GH3,300. This asset is depreciated annually at 10%

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