1
ACCOUNTS ONLY
QUESTION ONE: The business was commenced on 01/04/2005
Date
Details
01/04/2005 Capital introduced in MUKO Bank
Purchases on Credit from Amin Co
Ltd
Rent paid through the Bank
Sundry expenses
06/04/2005 Cash Sales
07/04/2005 wages
Paid for purchases made on credit
07/04/2005 by cheque
Purchases made on Credit from
08/04/2005 Adiga Co Ltd
09/04/2005 Purchased a vehicle
09/04/2005 Purchased Furniture
10/04/2005 sales on credit to Chandria
11/04/2005 Travel expenses paid
12/04/2005 Wages paid
repairs to shop
received cash from latest sales
drawings
16/05/2005 Credit purchases from Nambwere
More capital introduced through
MUKO Bank
17/04/2005 Cash Sales
19/04/2005 Sundry expenses
Got a loan from CPA SACCO
Paid Nambwere for the purchases
20/04/2005 on credit
21/04/2005 Advertising expenses
22/04/2005 Purchases on credit from Awuga
25/04/2005 drawings
29/04/2005 Wages
30/04/2005 Cash sales
Shs
18,000,000
6,700,000
550,000
250,000
9,500,000
200,000
2,300,000
8,500,000
2,500,000
3,500,000
550,000
250,000
700,000
2,500,000
800,000
7,000,000
2,000,000
9,100,000
550,000
8,000,000
6,500,000
700,000
5,800,000
900,000
400,000
8,300,000
2
Most transactions were done
through MUKO BANK
Required:
Generate
a. Trial Balance for the month (10 marks)
b. Statement of Comprehensive income.(10 marks).
c. Statement of financial Position.(10 marks).
d. Five ratios and their interpretation.(10 marks).