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  3. part 3: final accounts - 30 marks the following tr

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

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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, $ Cr, $ Purchases and Sales 11,280 19,740 Cash in Bank 1,140 Cash in hand 2 10 Equity Account 1 March 2018 9,900 Drawings 2,850 Office furniture 1,440 Rent 1,020 Wages and Salaries 2,580 Discounts 690 360 Debtors un Creditors 4,920 2,490 Stock 1 March 2018 2,970 Provision for bed debt Delivery van 2,400 Van running costs 450 Bad debt written off 810 Total 32,760 32,760 | 270 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: Office 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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