capital 50,000
bad debts 500
bank overdraft 1500
purchases 60,000
sales 97500
debtors 25,000
creditors 17,000
discount allowed 2,000
discount received 3500
deposits with society 8000
drawings 3600
cash in hand 3000
furniture 2500
interest on overdraft 150
rent 2200
rates 600
provision for bad debt 2000
repairs 1800
salaries 10,000
interest on society department 170 returns inward 1800
returns outward 2500
stock 1/1/2002. 15000
custom duty on purchases 8020 premises 30000
Further information:
* Depreciation furniture 10%
*cost of repairs to furniture 200 was debited to furniture account instead of repairs account.
* Keep provision for bad debts 5% debtors
* provision for commission receivable is 3600
* Stock 31/12/2002 is 20,000
so please how will I post it in the statement of profit or loss and statement of financial position