Self-test Trial balance of Lister Limited at 30 June 2009 Carriage outwards 3,000 Bank 700 Trade creditors 13,900 Trade debtors 32,800 Directors’ remuneration 5,500 Electricity and gas 2,800 Insurance 1,700 Plant and machinery – at cost: 42,000 Accumulated depreciation at 1 July 2008 15,200 Office expenses 4,900 Ordinary issued share capital 25,000 Dividend 625 Profit and loss account at 1 July 2008 13,200 Provision for doubtful debts 800 Purchases 124,000 Rent and rates 7,500 Sales 210,625 Stock at 1 July 2008 13,400 Motor vehicles: at cost 8,000 Accumulated depreciation at 1 July 2008 4,000 Wages and salaries 35,800 282,725 282,725 You are given the following additional information:

(i) Stock at 30 June 2009, valued at cost, amounts to £15,500.

(ii) Depreciation, using the reducing balance method, is to be provided as follows:

(a) Plant and machinery at 20 per cent.

(b) Motor vehicles at 25 per cent.

(iii) The provision for bad debts is to be equal to 5 per cent of outstanding debtors as at 30 June 2009.

(iv) The insurance account includes £300 which covers the business from 1 July 2009 until 31 December 2009.

(v) Rent due but unpaid at 30 June 2009 amounts to £250.

(vi) The directors agreed to pay a dividend of 5 per cent for the year. This includes the interim dividend already paid.

(vii) Lister Limited has an authorised capital of 200,000 50p ordinary shares.

Prepare a trading and profit and loss account for the year ended 30 June 2009, and a balance sheet as at that date.