Question

QUESTION TWO

On completion of writing up the books, the following matters are brought to your
attention:
a) Stocks of food and drink at 28 February 2012 are valued at $250.
b) Mr. Shah owes a waiter $20 in respect of overtime worked in week 4.
c) The rates payments cover the period 1 February to 30 April
d) Electricity consumed in the month is estimated to be. $100.
e) Being a prudent man, Mr. shah instructs you to create a provision for doubtful
debts of 4% of debtors.
f) It is decided to write off fixtures and fittings by equal installments over 10 years.
You are required to:
1) Adjust the books for the above
2) Prepare the restaurant's trading and profit and loss account for the first month
and a balance sheet as at 28 February 2001

Answer 1

Step-by-step explanation:

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