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

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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