The following trial balance was extracted from the books of Rodney, a sole trader, as at31.12.X5: The

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The following trial balance was extracted from the books of Rodney, a sole trader, as at31.12.X5:

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The following matters have not been taken into account in the preparation of the above trial balance:
► Stock 31.12.X5 £4,870.
► Light and heat due 31.12.X5 £120, general expenses due £80.
► Depreciation is to be provided for the year as follows: premises - 2% on cost fixtures and fittings - 10% on cost vehicles - 20% reducing balance.
► A further bad debt of £130 is to be written off and the bad debts provision is to be at 5% of debtors after the write-off.
► The loan interest of £600 has not been paid for the year.
You are required to prepare a profit and loss account for the year ended 31.12.X5 and a balance sheet as at that date.

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Financial Accounting

ISBN: 9780273658597

3rd Edition

Authors: Anne Britton, Christopher Waterston

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