From the following trial balance of B Morse drawn-up on conclusion of his first year in business, draw up a trading and profit and loss account for the year ending 31 December 2008.

A balance sheet is not required. 

Stock at 31 December 2008 was £14,486.

Transcribed Image Text:

Trial Balance as at 31 December 2008 Dr Cr General expenses Business rates Motor expenses Salaries Insurance 305 2,400 910 39,560 1,240 Purchases 121,040 Sales 235,812 Car 4,300 Creditors 11,200 Debtors 21,080 Premises 53,000 Cash at bank 2,715 Cash in hand 325 Capital 23,263 Drawings 23,400 270,275 270,275