Alex Boots, a retailer, has produced the following information:

a Summary of the bank account for the year ended 30 April 2009.

b Assets and liabilities, other than balance at bank:

c It is Alex Boots’ policy to provide depreciation on fixtures and fittings at 10 percent per annum and on the motor vehicle at 25 percent per annum, both on the reducing balance method.
d Alex Boots withdrew £420 (at cost) of the stock for his own consumption.
Required 1 Prepare Alex's profit and loss account for the year ended 30 April 2009.
2 Prepare Alex's balance sheet as at 30 April 2009.

Transcribed Image Text:

Balance 1 May 2008 Receipts from sales 1,890 33,521 Purchases of goods for resale 25,542 Alex's personal drawings 7,200 Redecoration of Alex's private house 844 Additional fixtures and fittings purchased 1 November, 2008 140 Payments for general expenses 985 Balance 30 April 2009 700 35,411 35,411