EN-O Private Limited has been in business for several years.

The following trial balance was

extracted from their books of account as at 30 September 2017:
Dr $’000 Cr $’000
Bad debt 15
Capital 609
Cash in hand and at bank 7
Discounts allowed 18
Discounts received 27
Dividends received 2
Drawings 12
Investments at cost 20
Motor vehicles: At cost 600
Accumulated depreciation (at 1October 2016) 300
Office expenses 35
Plant and equipment: At cost 240
Accumulated depreciation (at 1 October 2016) 144
Provision for bad and doubtful debts (at 1 October 2016) 3
Purchases 570
Salaries 105
Sales 900
Inventory (at 1 October 2016) 200
Trade payables 71
Trade receivables 160
Wages 74

Additional information:
1) Stock at 30 September 2017: $180,000.
2) Depreciation on motor vehicles is charged at a rate of 25% on cost and on plant and
equipment at a rate of 30% on cost.
3) Wages owing at 30 September 2017: $2,000.
4) Business rates paid in advance at 30 September 2017: $5,000.
5) A provision for bad and doubtful debts is maintained at a rate equivalent to 2.5% of
outstanding trade receivables as at the end of the year.

REQUIRED
Prepare for EN-O Private Limited, (i) Statement of Profit or Loss for the year to 30 September
2017 and the (ii) Statement of financial position as of that date.

(20 Marks)

(Total: 20 Marks)