The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader.

The following additional information as at 31 May 19_6 is available:

(a) Rent is accrued by £210.

(b) Rates have been prepaid by £880.

(c) £2 211 of carriage represents carriage inwards on purchases.

(d) Equipment is to be depreciated at 15% per annum using the straight line method.

(e) The provision for bad debts to be increased by £40.

(f) Stock at the close of business has been valued at £13 551.
Required:
Prepare a Trading and Profit and Loss Account for the year ended 31 May 19_6 and a Balance Sheet as at that date.

Transcribed Image Text:

Sales Purchases Carriage Drawings Trial balance as at 31 May 19_6 Dr Cr 138 078 82 350 5 144 7 800