The following trial balance was extracted from the books of B Jackson on 30 April 20X7. From
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The following trial balance was extracted from the books of B Jackson on 30 April 20X7. From it, and the note about stock, prepare his trading and profit and loss account for the year ended 30 April 20X7, and a balance sheet as at that date.
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Dr Cr Sales Purchases 18,600 11,556 Stock 1 May 20X6 3,776 Carriage outwards Carriage inwards Returns inwards 326 234 440 Returns outwards Salaries and wages Motor expenses Rent Sundry expenses Motor vehicles Fixtures and fittings Debtors Creditors 355 2,447 664 576 1,202 2,400 600 4,577 3,045 Cash at bank 3,876 Cash in hand 120 Drawings 2,050 Capital 12,844 34,844 34,844 Stock at 30 April 20X7 was 4,998.
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