Michael Atisse, a carpenter, has the following trial balance as at 31 December 2005.

Required: Prepare M. Atisse’s trading and profit and loss account for the year ended 31 December 2005 and the balance sheet as at 31 December 2005.

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Debit Credit Work done 50,000 Purchases of materials 25,000 Opening stock of tools 650 Motor expenses 3,550 Debtors 1,000 Creditors 4,000 Cash at bank 3,600 Long-term loan Building at cost 16,800 52,300 Motor car at cost 8,000 Computer at cost 6,300 Office equipment at cost 10,200 Business rates 1,300 Electricity 900