Priya Patel is an overseas student studying at a British University. Priya has the following financial details:

£ £

Tuition fees paid 6,840 Food paid 550 Hall of residence fees paid 2,000 General expenses paid 180 Money spent on books 160 Parental loan of £2,000 during year Money spent on entertainment 500 Money earned at arts and State of affairs at the start of the year:

crafts bazaar 1,800 Cash at bank 8,600 Phone calls paid 100 Music system* 200

* Still worth £200 at end of year.

Required: Priya’s:

(a) Profit and loss account (income and expenditure account)

(b) Balance sheet (assets and liabilities)

(c) Cash flow statement L01