Desmond's trial balance at 31 March 2004 was as follows. Further information 1. Stock at 31 March

Question:

Desmond's trial balance at 31 March 2004 was as follows.


Further information 

1. Stock at 31 March 2004 was valued at $11 000. 

2. Expenses owing at 31 March 2004 were: rent payable $2000; carriage inwards $330; carriage outwards $280. 

3. Sundry expenses of $200 had been paid in advance; interest receivable of $160 had accrued. 

4. At 31 March 2004, rent receivable of $200 had been received in advance. 


Required 

(a) Prepare Desmond's Trading and Profit and Loss Account for the year ended 31 March 2004. 

(b) Prepare the Balance Sheet at 31 March 2004.

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