33. Kafodidi Ltd. is incorporated with an authorized capital of 500,000 ordinary shares of no par
value. The following relates to the operations of the company as at 31st December, 2007.
Stated capital
8% debentures
Plant and machinery
Fixtures and fittings
Stock, 31st January, 2007
Stock, 31st December, 2007
Purchases
(c)
Sales
Discounts received
Income surplus, 1st January, 2007
Creditors
Debtors
Proposed dividend
Dividend paid
Operating expenses
Bank
You are required to prepare
(a)
(b)
GH¢
4,500.00
80.00
400.00
1,900.00
150.00
400.00
600.00
1,000.00
10.00
40.00
20.00
20.00
60.00
30.00
150.00
60.00
trading, profit and loss account for the year ended 31st December, 2007;
income surplus account for the year ended 31st December, 2007;
balance sheet as at 31st December, 2007.
(GBCE May 2008)