The transaction below shows Mr Mukindias financial position in his farm business for the year.

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The transaction below shows Mr Mukindias financial position in his farm business for the year

2004.                    Ksh
Purchase of pesticides         3,000
Milk sales     –             8,000
Sale of goats                5,000
Closing  valuation           16,000
Interest payable               1,750
Veterinary bills                1,400
Opening valuation             12,000
Wages                        10,000
Depreciation of machinery         3,000
Sale of one heifer             1,000

Prepare a profit and loss account for Mr Mukindia’a farm.(5mks)

Prepare a profit and loss account for Mr Mukindia’a farm

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