BAC1 (BSM 1313)
2004/2005
Supplementary Continuous Assessment

Question 1

The following trial balance was extracted from the books of Image Import
and Export Company at the close of business on 31 December 2003.

						Dr.        Cr.
$'000      $'000
Capital                                                 1,357
Drawings                                         8
Sales                                                   1,371
Purchases                                      860
Returns Outwards                                           40
Returns Inwards                                 57
Commission Income                                          10
Stock at 1 January 2003                        143
Trade Debtors                                  370
Trade Creditors                                           268
Carriage Outwards                               22
Carriage Inwards                                12
Plant & Machinery at cost                      100
Land & Building at cost                      1,400
Salaries Expense                                85
Rent & Rates Expense                            62
Electricity Expense                             55
Bad Debts                                       7
Discounts Allowed                              15
Discounts Received                                          8
Provision for Doubtful Debts, at 1 January 2003            11
Provision for depreciation at 1 January 2003

- Plant & Machinery                                         10

- Land and Building                                        210
Bank                                       58
Cash                                       31
					------	        ------
					  3285		 3285

Page 1