MUKISE SHOPPING CENTER

STATEMENT OF PROFIT AND LOSS

FOR THE YEAR ENDED 31/12/2020

Sales 220,724,500
less return inwards - 135,600
Net sales 220,588,900

Less cost of sales

opening stock 50,790,400
add purchases 80,142,000
less purchases return - 348,600
less closing stock - 36,080,000
Cost of sales - 94,503,800

Gross profit 126,085,100

Add other incomes
discount received 2,062,000

Gross profit before expenses 128,147,100

Less operating expenses

discount allowed 2,248,000
carriage outwards 3,321,000
rates rent and insurance 3,870,000
less prepaid insurance - 600,000 3,270,000

increase in provision 110,000

depreciation fixtures 1,989,100
motor van 7,560,000
buiding 1,449,975
salaries and wages 5,920,000
accrued salaries and wages 3,500,000
office expenses 10,319,000
accrued office expenses 1,600,000
heating and lighting 4,400,500
Operating expenses 45,687,575

Net profit for the year 82,459,525

 MR ALI
STATEMENT OF FINACIAL POSITION
AS AT THE 30TH APRIL, 2020(amounts in ''000'')

non current assets cost acc depn NBV

land 6,000,500 - 6,000,500
buiding 28,999,500 1,449,975 27,549,525
fixtures and fitting 31,900,000 1,989,100 29,910,900
motor van 75,600,000 7,560,000 68,040,000
current assets
inventory 36,080,000
trade receivables (24500-735) 39,042,600
cash in hand 35,400,000
prepaid rent 600,000
total assets 242,623,525

financed by capital and liabilities

capital 132,000,000
less drawing - 2,140,000
add net profits 82,459,525

liabilities
current liabilities
bank overdraft 4,490,000
accounts payable 21,140,000
accrued wages 3,500,000
accrued office expenses 1,600,000
total capital and liabilities 243,049,525
 MUKISE SHOPPING CENTER
STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31/12/2020

Sales 12,000,000
less return inwards - 50,000
Net sales 11,950,000

Less cost of sales

opening stock 600,000
add purchases 4,000,000
add carriage inwards 100,000
less purchases return - 500,000
less closing stock - 1,300,000
Cost of sales - 2,900,000

Gross profit 9,050,000

Add other incomes
discount received 80,000

Gross profit before expenses 9,130,000

Less operating expenses

discount allowed 60,000
carriage outwards 110,000
salaries and wages 1,000,000
less prepaid insurance - 500,000 500,000

increase in provision 60,000

depreciation computers 500,000
buiding 700,000
water expenses 200,000
lighting and heating 700,000
accrued lighting and heating 120,000
rent 700,000
add accrued rent 150,000
Operating expenses 3,800,000

Net profit for the year 5,330,000

 MR ALI
STATEMENT OF FINACIAL POSITION
AS AT THE 30TH APRIL, 2020(amounts in ''000'')

non current assets cost acc depn NBV

buiding 7,000,000 700,000 6,300,000
computers 5,000,000 500,000 4,500,000
current assets
inventory 1,300,000
trade receivables (3000000-130000) 2,870,000
cash in hand 800,000
bank 2,500,000
prepaid salaries 500,000
total assets 18,770,000

financed by capital and liabilities

capital 6,850,000
less drawing - 2,060,000
add net profits 5,330,000

liabilities
current liabilities
bank overdraft 6,300,000
accounts payable 2,000,000
accrued rent 150,000
accrued lighting and heat 120,000
total capital and liabilities 18,690,000