Anne Parfitt owns a retail carpet business. After her trading and profit and loss account for the year ended 31 May 20-5 was completed, the following balances remain in her ledger:

£

Net profit 29,720 Premises 48,000 Motor vehicles 12,750 Equipment 7,500 Debtors 4,318 Creditors 3,804 Cash 572 Loan - Northern Bank 5,000 Capital at 1 June 20-4 45,250 Drawings 7,000 Bank overdraft 1,726 Stock at 31 May 20-5 5,360 You are required to:

(a) Prepare a balance sheet as at 31 May 20-5 clearly showing all the items under the appropriate headings.

(b) Anne Parfitt had taken drawings in 4 equal instalments, by cheque, at the end of each quarter.

You are required to:

Write up the drawings account and the capital account, including all relevant dates and transfers, and balance the accounts for the year ended 31 May 20-5.