Data for Jennifer Aniston’s business as at 31 December 20x9 are as follows:

Required 1 Prepare a profit and loss account for the year ending 31 December 20x9.
2 Prepare a balance sheet as at 31 December 20x9.

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Wages Cash at bank Fees earned Trade debtors Trade creditors Advertising 4,000 52,000 21,000 7,500 4,800 2,200 Commission earned 17,000 Land and buildings 85,000 Mortgage on land and buildings 45,000 Insurance expense 4,200 Drawings Jennifer Aniston 8,800 Capital - Jennifer Aniston ? Stock of stationery Stationery used Discount received Discount allowed Motor vehicles 750 250 150 100 18,550