The following information is available for the year ended 31 March 20*8 for Dratesh Narewal:

Required

Prepare the trading and profit and loss account for the year ended 31 March 20*8 and a balance sheet at that date.

Transcribed Image Text:

Motor vehicles at cost Office equipment at cost Premises at cost Purchases Sales Returns inward Returns outward Carriage inward Carriage outward Salaries Drawings Motor expenses Advertising Insurances Heat and light Rates General expenses Debtors Creditors Stock at 1 April 20*7 Stock at 31 March 20*8 Bank overdraft Long-term bank loan Capital at 1 April 20*7 £ 35,000 18,750 65,000 48,661 102,453 743 911 1,539 332 28,749 24,675 5,673 1,350 3,764 2,479 1,245 941 4,601 1,955 995 1,007 351 40,000 98,827