During the year to 31 December 2001 the following total transactions occurred a) Mary withdrew a total of Sh 10,000 00 in cash
b) Stock in trade was bought all on credit
, for Sh 34,000.00
c) Sales were made totaling 60,000 00 of stock in trade which had cost Sh 37,000 00
these sales Sh 51,000 00 were on credit and Sh 9,000.00 for cash.
d) A total of Sh 16,000 00 was drawn from the bank in cash to the cash till
e) Electricity for the year paid by cheque totaled Sh 2,000.00
Rates for the year paid by cheque totaled Sh. 1,000.00
g) Wages for the year all paid cash totaled Sh.10,000 00
h) Sundry expenses all paid in cash totaled Sh 2,000 00
1) Creditors were paid a total of Sh 36,000.00 all by cheque
D Debtors paid a total of Sh 54,000.00 all in cheques.
Fundamentals of Accounting
The bank charged interest on the loan deducting Sh 3,000.00.
prepare a revised balance sheet​