Gi) Extract a trial balance(5 marks) (ii) Draw the balance sheet as at 31 December 2009(10 marks) (0) Land which originally cost $90 000 is sold for $120 000. The original purchase was financed from revenue ($30 000)and the balance from by an advance from a Consolidated Loans Fund(CLF), of which $5000 is still outstanding. REQUIRED Record this in the form of journal entries and prepare an extract Balance sheet after the sale.(10 Marks) QUESTION 2 The following information relates to transactions of Mutare Civic Restaurant Balances as at 1 January 2009 Capital Outlay $ Land 10 500 Buildings 37 500 Equipment 25 500 Outstanding Advances from Loan Fund . 30 000 wo Advance Repaid 12.000 Revenue Contribution To Capital Outlay 17 250 Revenue Accounts Surplus ell 72000 Transactions during 2009 Capital Expenditure $ Equipment (From revenue) 1125 Building alterations (from advance from loans Fund) 1875Sale of meals and refreshments 133 500 Miscellaneous income 42.000 Provisions consumed 85.200 Transport 11g00 Salaries and wages 3p 000 Repair of buildings 9375 Repair and renewal of equipment 1650 ‘Administration Expenses 2100 Interest on advances from loan fund 2.400 ‘Advances from loans fund repaid 1875 Balances at 31 December 2009 ‘Sundry Debtors 2700 ‘Sundry Creditors 6 000 Cash 6225 Stock of provisions 4500 Adustments are required as follows; (a Miscellaneous income includes an amount of $150.from the sale of some equipment which originally cost $600 and had been purchased from revenue. This income will be used to reduce the balance in advances in the loans fund. (b)$ 150, which represents the balance of an account due to the Civic Restaurant, has to be written off REQUIRED (@) Prepare the income statement.(10 marks) (b) Prepare a capital statement.(5 marks) (c) Prepare a balance sheet.(5 marks)