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Ekari MTEWA - 200566 - 0

Student and LUANAR

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24 views3 pages

Ekari MTEWA - 200566 - 0

Student and LUANAR

Uploaded by

emtewa65
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES

ODL CAMPUS

Knowledge, Innovation, Excellence


TO : .Mr P Chiombankhanga

FROM Group 14

PROGRAME : DEVELOPMENT ECONOMICS

COURSE NAME : FUNDAMENTALS OF ACCOUNTING


ASSIGNMENT TITLE PREPARATION OF FINANCIAL STATEMENTS

DUE DATE : 18TH OCTOBER 2023

Group mambers

Ekari Mtewa

Happy Mkwaila

Ackim Mlagha

Anastazia Mphande

Horace Mpokwe

Prince Mponda
Chimwemwe Mlenga

Chitenthe Munthali

Obadia Muula

Stella Mwalwanda

Question 1-Financial statements for P Pondamali.


TRIAL BALANCE
DEBIT CREDIT
Sales 1,981,000.00
Return inwards 35,000.00
Cost of sales 2,400,000.00
Rent 225,000.00
Capital 14,630,000.00
Stationery 62,000.00
Wages 160,000.00
Business rates 925,000.00
Insurance 280,000.00
Motor Expenses 24,000.00
Dpn Van 122,000.00
DPN Fixtures 1,700.00
Accumulated DPN 123,700.00
return outwards 0.00 195,000.00
Bank 2,843,000.00
Cash 396,000.00
Receivables 1,731,000.00
Van 6,100,000.00
Fixtures 170,000.00
Closing inventory 259,000.00
Accounts Payables 785,000.00
15,733,700.00 15,733,700.00

Income Statement for Mr P Pondamall

Sales 1,981,000.00
less sales returns -35,000.00
1,946,000.00
Opening stock 0.00
Purchases 2,400,000.00
Less Purchase returns -195,000.00
Less Closing stock -259,000.00 1,946,000.00
Gross profit 0.00

Stationery 62,000.00
Wages 160,000.00
Business rates 925,000.00
Insurance 280,000.00
Motor Expenses 24,000.00
Depreciation Van 122,000.00
DepreciationFixtures 1,700.00
Stationery 62,000.00
Rent 225,000.00
1,861,700.00
Profit or Loss -1,861,700.00

Statement of Financial position


Non Current Asset cost Accumulated Depreciation
Net Book Value
Van 6,100,000.00 122,000.00 5,978,000.00
Fixtures 170,000.00 1,700.00 168,300.00
Total Fixed assets 6,146,300.00

Current Asset
Bank and cash 3,239,000.00 0.00
Closing inventory 259,000.00
Receivables 1,731,000.00
5,229,000.00
total Assets 11,375,300.00

Liabilities
Capital 12,600,000.00
Less Profit/loss -2,009,700.00
Accounts Payables 785,000.00
Powered by TCPDF (www.tcpdf.org)
Total Liabilities 11,375,300.00 11,375,300.00

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