The following trial balance has been prepared from the books and records of Sulphur Products as at 30 September 20X9. We are also told that the figures have to be amended to take into account further adjustments (see below).

Additional information
1. A trade customer has become bankrupt and £2,000 of their balance owing has yet to be written off.
2. The allowance for irrecoverable debts is to be 3 per cent of trade receivables.
3. There are unpaid bills for electricity £200 and telephone £300.
4. Rent is payable at £3,300 per quarter, and has been paid until the end of November 20X9.
5. The value of inventories at 30 September 20X8 is £16,500.
6. Depreciation is to be provided on Plant and Equipment (25 per cent reducing balance method).

Required
Prepare a statement of performance for Sulphur Products for the period ending 30 September 20X9 and a statement of financial position at that date.

Transcribed Image Text:

Capital Drawings Vehicles Sulphur Products Trial balance at 30 September 20X9 Trade payables Trade receivables Inventories (1 October 20X8) Rent Telephone Postage Electricity Bank Returns inwards Returns outwards Allowance for irrecoverable debts Purchases Sales revenue Plant and equipment Discounts received Bank charges Debit £ 9,000 60,000 37,000 12,000 15,400 1,800 300 2,100 22,000 4,000 213,000 147,000 1,800 525,400 Credit £ 99,000 47,000 2,500 900 370,000 6,000 525,400