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XYZ LTD as at 31 st Dec 2016 Ksh Ordinary share capital

XYZ LTD as at 31st Dec 2016


Ordinary share capital                                                                                                          300,000

Preference share capital                                                                                                       150,000

Share premium                                                                                                                                  25,000

Revaluation reserve                                                                                                               30,000

General reserve                                                                                                                                 20,000

Retained earnings as 1.1.16                                                                                       50,000

Long term loan (debentures)                                                                                      80,000

Land and building                                                     550,000

Patents                                                                                             50,000

Motor vehicle                                                             50,000

Opening inventory                                                     10,000

Account receivable                                                    80,000

Account payable                                                                                                                               45,000

Bank                                                                                      75,000

Electricity expense                                                     8,000

Wages                                                                                   50,000

Telephone expense                                                     7,000

Sales revenue                                                                                                                        350,000

Purchases                                                                   150,000

Loan interest                                                              8,000

Other expense                                               12,000                                      

                                                                                   1,050,000                                 1,050,000

Additional information

Closing inventory                                          25,000

Amount payable

  Ordinary dividend                                     6,000

   Preference dividend                                   3,000

   Taxation                                                                26,000

Authorised share capital

   Ordinary share capital                                350,000

   Preference share capital                             200,000


hep on how to make an income and statement of affairs for XYZ Ltd



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balance sheet (2).png

income staement.png

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Revaluation Reserve General reserve
Shares premium
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