Kisii Traders had the following balances as at 31^st December 2014. ...

Kisii Traders had the following balances as at 31^st December 2014.

Shs
Bank Loan 3 years........................... 472,500
Buildings ....................................540,000
Creditors ....................................227,000
Debtors .......................................116,900
Furniture ......................................408,170
Gross profit ...................................520,600
Motor vehicle ...................................900,000
Discount allowed ................................142,000
Lighting........................................ 25,200
Interest on loan ................................1,200
Closing stock ...................................72,500
Rent Received ..................................120,000
Repairs on buildings .............................60,000
Repairs on furniture .............................72,030
Repairs on motor vehicle .........................300,000
General expenses ..................................102,100
Capital ..........................................1,400,000
Prepare:
(i) Profit and loss account for the year ended 31^st December 2014.
(ii) Balance sheet as at 31/12/2014.

Answers

sharon kalunda answered the question on September 4, 2019 at 11:32

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