Solution of the Problem Relating to Trading, Profit and Loss account and Balance Sheet from Kenya

 

Today, morning, I have checked my whatsapp and I got the above problem screenshot and told, help me to solve this question. 

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Now, we are trying to solve this question

Solution 

Trading Account:

Particulars	Debit (Pound)	Particulars	Credit (Pound)
Opening Stock	290,114	Sales	1,606,086
Purchases	810,613	Closing Stock	317,426
Carriage Inwards	2,390
Gross Profit ( Balance)	820,395	Total	1923512
Total	1923512

Profit & Loss Account:

Particulars	Debit (Pound)	Particulars	Credit (Pound)
Carriage Outwards	13,410	Gross Profit	820,395
Salaries	384,500
Business Rates	1700 +14800
Office Expenses	245+ 9100
Sundry Expenses	2360
Depreciation: Buildings	40,000
Depreciation: Equipment	48,000
Directors' Remuneration	119,200
Total Expenses	633315
Net Profit ( Balance)	187080

Balance Sheet as at 31 December 20X2 :

Liabilities	Amount (Pound)	Assets	Amount (Pound)
Current Liabilities		Current Assets
Creditors	237,516	Bank	8,100
Business Rates Owing	1,700	Debtors	321,219
Office Expenses Owing	245	Stock	317,426
Total Current Liabilities	239,461	Total Current Assets	646,745
Non-current Liabilities		Non-current Assets
Proposed Dividend	80,000	Buildings at Cost	800,000
Total Non-current Liabilities	80,000	Equipment at Cost	320,000
Provision for Dep.	80000+96000
Equity Share capital + Net profit + General Reserve + Foreign exchange reserve= 800000+187080+136204+120000+30000	12,73,284

Now it is your duty to total of asset side and liability side and prove our solution is ok if match.