The following trial balance was extracted from the books of Shorts Ltd as at 30 June 19-9:

Share capital - ordinary shares 10% debentures Building at cost Purchases and sales Debtors and creditors Rent receivable Salaries Rates and insurance Motor vehicle expenses Directors' salaries General expenses Motor vans at cost Provision for depreciation on vans at 1 July 19-8 Stock at 1 July 19-8 Bank balance Debenture interest to 31 December 19-8 Bad debts Profit and loss account at I July 19-8 dr 36,000 180,000 18,000 24,000 2,000 3,000 6,000 5,000 12,000 30,000 30,000 1,000 2,000

£349,000 The following matters are also to be taken into account:

1 Stock at 30 June 19-9 was £32,000.

2 Salaries outstanding at 30 June 19-9 amounted to £1,000.

3 Rent receivable due at 30 June 19-9 was £1 ,000.

cr 50,000 20,000 240,000 14,000 1,000 3,000 21,000

£349,000 4 Debenture interest for the 6 months to 30 June 1989 is payable.

5 Depreciation on motor vans is calculated at 25% per annum on cost.

6 The directors propose to pay a dividend of £5,000.

Prepare the final accounts for the year and a balance sheet at 30 June 19-9. LO.1