Bill supplies the following information for the year ended 30 June 20*8: stock at 1 July 20*7
Question:
Bill supplies the following information for the year ended 30 June 20*8:
stock at 1 July 20*7 £438; stock at 30 June 20*8 £541; purchases £54,763; sales £99,063; returns inward £286; returns outward £421; wages £17,539; motor expenses £6,882; advertising £480; heat and light £2,856; rates £1,165; general expenses £6,423.
Required
Prepare a trading and profit and loss account for the year ended 30 June 20*8.
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