Rose Ubens, buys and sells goods. Her trial balance is presented below.

Note: 1. Closing inventory is £4,000 Required:

Prepare Rose Ubens, income statement for the year ended 31 December 2012 and a statement of financial position as at 31 December 2012.

Transcribed Image Text:

R. Ubens Trial Balance as at 31 December 2012 Debit Credit Opening inventory 3,600 Building 20,400 Motor van 3,500 Trade receivables 2,600 Trade payables 3,800 Cash at bank 4,400 Electricity 1,500 Advertising 300 Printing and stationery 50 Telephone 650 Rent and rates 1,200 Postage 150 Drawings 7,800 Equity 19,950 Revenue 88,000 Purchases 66,000 Sales returns 800 Purchases returns 1,200 112,950 112,950