Leonardo Da Vinci, who sells computers, has extracted the following balances from the accounts.

You have the following additional information.
1. Closing stock of computers as at 30 September 2005 is £7,000.
2. Da Vinci owes £175 for the telephone and £1,200 for electricity.
3. The prepayments are £25 for insurance and £250 for rent.
Required: Prepare Da Vinci’s trading and profit and loss account for the year ended 30 September 2005 and a balance sheet as at 30 September 2005.

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L. Da Vinci Trial Balance as at 30 September 2005 Debit Credit Sales 105,000 Sales returns 8,000 Purchases 70,000 Purchases returns 1,800 Opening stock of computers 6,500 Drawings 8,500 Debtors 12,000 Creditors 13,000 Cash at bank 1,800 Long-term loan 6,600 Discounts allowed 300 Carriage inwards 250 Business premises 18,000 Motor van 7,500 Computer 1,500 Wages Electricity 32,500 825 Telephone 325