Proud Company Limited Trial Balance as at 31st December 2021 Debit Credit 500,000 10,000 50,000 50,000 30,000 1,800 10,000 100,000 100,000 Authorized Capital (500,000 @ $1) Short term loan Profit and Loss Appropriation Account Investment in Fixed Deposit Stock at end Electricity expense due Prepayments Unissued Capital (100,000 @ $1) Asset revaluation reserve Cash at bank Mortgage Buildings Goodwill Machinery Provision for depreciation- Furniture Debtors Accounts Payable Provision for depreciation-Machinery Bank Overdraft 150,000 283,300 250,000 45,000 150,000 400 25,000 35,000 10,000 5,000 5,000 Rent due Furniture Land 10,500 180,000 1,000,500 $ $ 1,000,500 Required: Study the above information and prepare a fully classified Balance Sheet for Proud Company Limited as at 31st December 2021

Proud Company Limited Trial Balance as at 31st December 2021 Debit Credit 500,000 10,000 50,000 50,000 30,000 1,800 10,000 100,000 100,000 Authorized Capital (500,000 @ $1) Short term loan Profit and Loss Appropriation Account Investment in Fixed Deposit Stock at end Electricity expense due Prepayments Unissued Capital (100,000 @ $1) Asset revaluation reserve Cash at bank Mortgage Buildings Goodwill Machinery Provision for depreciation- Furniture Debtors Accounts Payable Provision for depreciation-Machinery Bank Overdraft 150,000 283,300 250,000 45,000 150,000 400 25,000 35,000 10,000 5,000 5,000 Rent due Furniture Land 10,500 180,000 1,000,500 $ $ 1,000,500 Required: Study the above information and prepare a fully classified Balance Sheet for Proud Company Limited as at 31st December 2021. (10 Marks)