From the following trial balance produce an income statement for the year to 31 December 2018 and
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From the following trial balance produce an income statement for the year to 31 December 2018 and a balance sheet as at that date.
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Sales Purchases Opening inventory Premises Vehicle Trade receivables Trade payables General expenses Office expenses Wages Insurance. Mortgage Capital Drawings Bank B Wheen Trial Balance as at 31 December 2018 78,000 6,790 95,000 13,500 6,756 2,918 4,231 22,410 540 124,000 3,544 40,000 75,000 15,000 245,145 Inventory held by the business as at 31 December 2018 was valued at 8,113. 2,601 245,145
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