fJulie Bright is a business consultant. On 30 June 20-3 the following trial balance was extracted from her books:

£

£

Freehold premises 27,000 Office equipment 3,500 Cash in hand 390 Fixtures and fittings 1,100 Advertising 6,680 Cash at bank 4,980 Repairs to equipment 410 Rates 1,100 Rent received from sub-letting 1,248 Telephone 602 Stationery 180 General expenses 1,034 Drawings 9,070 Wages 3,980 Insurances 970 Loan from Loamshire Bank (over five years)

4,000 Loan interest 300 Commissions received for Professional services 28,847 Capital, 1 January 20-3 27,201 61,296 61,296 On 30 June 20-3 the following adjustments had not been made:

(i) Rates prepaid were £325

(ii) A telephone bill of £415 has not been paid

(iii) There was a small stock of stationery in hand valued at £24

(iv) A bill for cleaning expenses of £35 was outstanding - these should be charged to General expenses

(v) Wages due to staff were £120 You are required to:

(a) Prepare a profit and loss account for the six months ending 30 June 20-3.

(b) Prepare a balance sheet as at 30 June 20-3.