S. Olsen, a wholesaler, did not keep proper books of account. The following information on his business was available on 31 March 19_4:

The balance at bank above included private investment income of his wife.
This income arose from an interim dividend of 5% and a final dividend of 11% on 10 000 ordinary shares of SOp each.
The following information for the year ended 31 March 19_5 was extracted from the cash book:

Required:

(a) A trading and profit and loss account for the year ended 31 March 19.4,

(b) A balance sheet as at 31 March 19_5.

Transcribed Image Text:

long term loan 10 000 premises motor vehicles 16 500 stock trade debtors 23 650 trade creditors balance & bank 10 500 cash in hand fixtures & fittings 12.000 accrued general expenses 50 000 12 500 14 500 3.400 450