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Balance sheet and income statement needed for sole proprietorship I need a complete solution to this problem asap You have just joined a Chartered Accountant

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Balance sheet and income statement needed for sole proprietorship

I need a complete solution to this problem asap

You have just joined a Chartered Accountant firm as a Trainee Accountant. The firm is in business since long and has many clients requiring the Accountancy and Financial Services, as part of undergoing training you have been allocated following tasks to complete. SCENARIO 1 A CLIENT MR. FREDDY A SOLE TRADER HAVE JUST TAKEN OUT THE TRIAL BALANCE AS AT 31ST DECEMBER 2021 AND WANT YOU TO PREPARE ITS FINAL ACCOUNTS. ADDITIONAL IN . INVENTOry at 31 December 2021 Was VALUED At 89,404. WAGES DUE AND UNPAID ARE 1,500. & Rent PaID IN ADVANCE 1,100. DEPRECIATION TO BE PROVIDED FOR AS FOLLOW; 900 ON OFFICE EQUIPMENT. OUTSTANDING TELEPHONE CHARGES 800

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