Accounting for Simba Services Ltd

Study Notes

Trial Balance as at 1st July, 2016

Simba Services Ltd has a capital of Ksh 4,200,000.
The company has creditors, including Koga Manufacturers, with a total amount of Ksh 486,500.
Debtors include Muga Supermarkets and Kalu University, with total amounts of Ksh 381,000 and Ksh 484,000 respectively.
The company has assets including motor vehicles, security equipment, patrol dogs, office furniture, and fixtures and fittings, with total costs of Ksh 8,416,200, Ksh 2,435,612, Ksh 1,456,200, Ksh 203,500, and Ksh 874,600 respectively.
The company has a bank loan of Ksh 6,400,000 and cash amounts of Ksh 346,700 in hand and Ksh 3,511,312 at the bank.

Credit Sales

On July 10, the company provided security services to Kauka Estate worth Ksh 806,000.
On July 24, the company provided dog patrol services to Kamili Transporters worth Ksh 312,400.
On July 31, the company provided cash transfer services to Muga Supermarkets worth Ksh 256,200.

Cash Sales

On July 13, the company received Ksh 240,000 in cash for security services.
On July 29, the company received Ksh 424,000 by cheque for security consulting services.
On July 31, the company received Ksh 208,000 by cheque for alarm response services to Kauka Estate.

Invoices Received

On July 20, the company received an invoice for rent of Ksh 146,200 from Chukan House.
On July 25, the company received a telephone bill of Ksh 83,400 from Safcom Kenya.
On July 30, the company received a security equipment maintenance bill of Ksh 105,000 from Digital Systems Ltd.

Cash Payments

On July 24, the company paid Ksh 146,200 to Chukan House.
On July 26, the company paid out salary advances of Ksh 92,300.
On July 26, the company paid Ksh 83,400 to Safcom Kenya.

Cheque Payments

On July 20, the company paid Ksh 486,500 to Koga Manufacturers by cheque.
On July 24, the company paid Ksh 35,600 to Uzuri Furniture by cheque for the purchase of office furniture.

Cheques Received

On July 17, the company received a cheque of Ksh 400,000 from Muga Supermarkets.
On July 22, the company received a cheque of Ksh 806,000 from Kauka Estate.
On July 25, the company received a cheque of Ksh 200,000 from Kalu University.

Trial Balance as at 1st July, 2016

Simba Services Ltd has a capital of Ksh 4,200,000.
The company has creditors, including Koga Manufacturers, with a total amount of Ksh 486,500.
Debtors include Muga Supermarkets and Kalu University, with total amounts of Ksh 381,000 and Ksh 484,000 respectively.
The company has assets including motor vehicles, security equipment, patrol dogs, office furniture, and fixtures and fittings, with total costs of Ksh 8,416,200, Ksh 2,435,612, Ksh 1,456,200, Ksh 203,500, and Ksh 874,600 respectively.
The company has a bank loan of Ksh 6,400,000 and cash amounts of Ksh 346,700 in hand and Ksh 3,511,312 at the bank.

Credit Sales

On July 10, the company provided security services to Kauka Estate worth Ksh 806,000.
On July 24, the company provided dog patrol services to Kamili Transporters worth Ksh 312,400.
On July 31, the company provided cash transfer services to Muga Supermarkets worth Ksh 256,200.

Cash Sales

On July 13, the company received Ksh 240,000 in cash for security services.
On July 29, the company received Ksh 424,000 by cheque for security consulting services.
On July 31, the company received Ksh 208,000 by cheque for alarm response services to Kauka Estate.

Invoices Received

On July 20, the company received an invoice for rent of Ksh 146,200 from Chukan House.
On July 25, the company received a telephone bill of Ksh 83,400 from Safcom Kenya.
On July 30, the company received a security equipment maintenance bill of Ksh 105,000 from Digital Systems Ltd.

Cash Payments

On July 24, the company paid Ksh 146,200 to Chukan House.
On July 26, the company paid out salary advances of Ksh 92,300.
On July 26, the company paid Ksh 83,400 to Safcom Kenya.

Cheque Payments

On July 20, the company paid Ksh 486,500 to Koga Manufacturers by cheque.
On July 24, the company paid Ksh 35,600 to Uzuri Furniture by cheque for the purchase of office furniture.

Cheques Received

On July 17, the company received a cheque of Ksh 400,000 from Muga Supermarkets.
On July 22, the company received a cheque of Ksh 806,000 from Kauka Estate.
On July 25, the company received a cheque of Ksh 200,000 from Kalu University.

Description

Record financial details and transactions of Simba Services Ltd for July 2016. Prepare a trial balance as of 1st July 2016. The company provides security services and has various creditors and debtors.