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Part 3: Final Accounts - 30 marks The following Trial Balance was extracted from the...

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Accounting

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Part 3: Final Accounts - 30 marks The following Trial Balance was extracted from the books of A.Scholes at the close of business on 28 February 2019 Dr. $ Cris Purchases and Sales 11.280 19.740 Cash in Bank 1.140 Cash in hand 210 Equity Account 1 March 2018 9.900 Drawings 2,850 Office furniture 1.4401 Rent 1.020 Wages and Salaries 2,580 Discounts 690 360 Debtors un Creditors 4,920 1 2.490 Stock 1 March 2018 2.970 Provision for bed debt 270 Delivery van 2.400 Van running costs 450 Bad debt written oll 8 10 Total 32.760 32.760 Additional information related to the reporting year asat 28 February 2019: (a) Stocks $3,510. (b) Wages ans Salaries accrued $90. (c) Rent prepaid $ 140. (d) Van running costs owing $60. (e) Increase the provision for Bad debt by $60. (1) Provide the depreciation as follow: - Omice furniture $ 180; Delivery van $480. Required: Draw up the Income statement for the year ending 28 February, 2019 and the Balance sheet as at 28 February 2019

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