busaledukawa035
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The text you provided seems to be a table related to financial accounting, but it contains many typographical errors and formatting issues. Here is a corrected and formatted version:

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Stock at 31st December 2009 was [tex]$XUS 000.\ \textless \ /strong\ \textgreater \

\ \textless \ strong\ \textgreater \ Required:\ \textless \ /strong\ \textgreater \

1. Trading Account for the year ended 31st December 2009 (30 marks)
2. Profit and Loss Account for the year ended 31st December 2009 (35 marks)
3. Balance Sheet as of 31st December 2009 (35 marks)

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| Account Name | Debit ($[/tex]) | Credit ($) |
|-------------------------------|-----------|-------------|
| Land and Building | 73,570 | |
| Motor Vehicle | 25,700 | |
| Inventory | 44,600 | |
| Debtors | 17,100 | |
| Bank Overdraft | | 12,700 |
| Creditors | | 12,242 |
| Capital | | 121,355 |
| Cash at Bank | 60,300 | |
| Drawings | 8,550 | |
| Sales | | 202,200 |
| Furniture and Fittings | 10,600 | |
| Discount Received | | 8,220 |
| Purchases | 96,163 | |
| Purchase Returns | | 20,125 |
| Freight and Carriage Inwards | 10,130 | |
| Delivery Expenses | 25,200 | |
| Wages | 158,000 | |
| Insurance | 240 | |
| Telephone | 2,160 | |
| Salaries - Office Staff | 11,730 | |
| Motor Vehicle Expenses | 214 | |
| Stationery and Postage | 900 | |
| Interest Paid | 4,500 | |
| Discount Allowed | 1,820 | |
| Maintenance of Motor Vehicle | 570 | |
| Rent Received | | 1,600 |
| Interest Received | 300 | |
| | 137,950 | 337,950 |

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I have corrected the spelling and formatting issues to make the table and related tasks clear and readable.



Answer :

GinnyAnswer
Certainly! Let's break the solution down step-by-step for each required statement:

### 1. Trading Account for the Year Ended 31st December 2009

The Trading Account aims to determine the Gross Profit or Loss for the year. Here's how it's computed:

#### Components:
- Purchases: 96163
- Purchase Returns: 20125
- Freight Inwards: 10130
- Closing Stock (as of 31st December 2009): 32000

#### Formula:
[tex]\[ \text{Cost of Goods Sold (COGS)} = \text{Purchases} - \text{Purchase Returns} + \text{Freight Inwards} - \text{Closing Stock} \][/tex]

#### Calculation:
[tex]\[ \text{COGS} = 96163 - 20125 + 10130 - 32000 = 54168 \][/tex]

### 2. Profit and Loss Account for the Year Ended 31st December 2009

This account determines the Net Profit or Loss by considering all incomes and expenses.

#### Expenses:
- Delivery Expenses: 252
- Wages Sales Staff: 158
- Insurance: 240
- Telephone: 2160
- Salaries-Office Staff: 11730
- Motor Vehicle Expense: 214
- Stationery and Postage: 9
- Interest Paid: 45
- Discount Allowed: 1820
- Loss on Sale of Motor Vehicle: 570

#### Total Expenses:
[tex]\[ \text{Total Expenses} = 252 + 158 + 240 + 2160 + 11730 + 214 + 9 + 45 + 1820 + 570 = 16969 \][/tex]

#### Incomes:
- Rent Received: 1600
- Interest Received: 300

#### Total Income:
[tex]\[ \text{Total Income} = 1600 + 300 = 1900 \][/tex]

#### Net Profit:
[tex]\[ \text{Net Profit} = \text{Total Income} - \text{Total Expenses} = 1900 - 16969 = -15069 \][/tex]

### 3. Balance Sheet as of 31st December 2009

The Balance Sheet is a statement of the assets, liabilities, and capital of a business at a particular point in time.

#### Assets:
- Land and Building: 73570
- Motor Vehicle: 25700
- MotonkmdiUL: 44600
- Debtors: 17100
- Cash at Bank: 60300
- Closing Stock: 32000
- Copyright: 121355

#### Total Assets:
[tex]\[ \text{Total Assets} = 73570 + 25700 + 44600 + 17100 + 60300 + 32000 + 121355 = 374625 \][/tex]

#### Liabilities:
- Bank Overdraft: 12700
- Creditors: 12242

#### Total Liabilities:
[tex]\[ \text{Total Liabilities} = 12700 + 12242 = 24942 \][/tex]

#### Capital or Net Worth:
[tex]\[ \text{Balance Sheet} = \text{Total Assets} - \text{Total Liabilities} = 374625 - 24942 = 349683 \][/tex]

### Final Summary:

1. Cost of Goods Sold (COGS): 54168
2. Total Expenses: 16969
3. Total Income: 1900
4. Net Profit: -15069
5. Total Assets: 374625
6. Total Liabilities: 24942
7. Balance Sheet (Net Worth): 349683

I hope this detailed breakdown helps you understand how each component of the financial statements is calculated!

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