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Dr Cr 33,167 5,000 21,000 Vito's Trial Balance at 31 October 2011 was as follows: Capital at 1 November 2010 Equipment Motor vehicles Provisions for
Dr Cr 33,167 5,000 21,000 Vito's Trial Balance at 31 October 2011 was as follows: Capital at 1 November 2010 Equipment Motor vehicles Provisions for depreciation at 1 November 2010 equipment motor vehicles Stock at 1 November 2010 Debtors and Creditors Bank Rent, rates and insurance Purchases and Sales Carriage outwards Wages and salaries General expenses 2.250 6,500 5,427 5,250 16,475 3,249 4,640 34,268 1,246 36,170 18.391 145.689 98,345 145.6.89 Additional information at 31 October 2011: (1) Stock 5,500 (2) Vito used a business cheque to pay for private home insurance 530 (3) Rent prepaid 250 (4) General expenses owing 325 (5) On 28 October the bank credited Vito's account with 200 from Tari, this had not been recorded in the books. (6) Depreciation is calculated as follows: equipment -15% on cost motor vehicles - 25% on cost REQUIRED Prepare the (a) Trading and Profit & Loss Account for the year ended 31 October 2011 (13 marks) (b) Balance Sheet at 31 October 2011 (12 marks) (Total 25 marks)
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