The following trial balance of N Dorritt was extracted as at 31 March 2018.

Additional information as at 31 March 2018:
(i) Inventory in trade was valued at £13,490.
(ii) Accruals were as follows:

(a) Wages £1,120

(b) Distribution costs £435

(c) Machine repairs £87.
(iii) Heating and lighting prepaid was £134.
(iv) The provision for doubtful debts is to be maintained at 4% of trade receivables.
Prepare a statement of comprehensive income for the year ending 31 March 2018 and a statement of financial position as at that date.

Transcribed Image Text:

Inventory as at 1 April 2017 Sales Purchases Heating and lighting Wages Distribution costs Machine repairs Discounts allowed Machinery Vehicles Provision for doubtful debts Bad debts Trade receivables Trade payables Bank Loan (repayable in 2022) Capital Drawings Dr 11,423 79,121 893 7,121 2,321 989 864 25,400 9,250 187 6,000 1,400 8,500 153,469 Cr 98,787 280 5,402 10,000 39,000 153,469