A J. Wright, a sole trader, extracted the following trial balance from his books at the close

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A J. Wright, a sole trader, extracted the following trial balance from his books at the close of business on 31 March 2012:

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Notes:

(a) Inventory 31 March 2012 £6,805.

(b) Wages and salaries accrued at 31 March 2012 £3,500; Office expenses owing £16.

(c) Rent prepaid 31 March 2012 £600.

(d) Increase the allowance for doubtful debts by £110 to £740.

(e) Provide for depreciation as follows: Fixtures and fittings £190; Van £1,400. Required: Prepare the income statement for the year ending 31 March 2012 together with a statement of financial position as at that date.

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Frank Woods Business Accounting

ISBN: 9780273759287

12th Edition

Authors: Frank Wood. Sangster, Alan

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