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Fill in the blanks given in the question MOSES KALEJI Trading and Profit and Loss Account for the Year Ended 31 December 2019 K K
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MOSES KALEJI Trading and Profit and Loss Account for the Year Ended 31 December 2019 K K K Sales 158,500 Less Returns 2.400 Turnover A) 31,000 Less: Cost of goods sold: Stock 1 January Purchases Add: Carriage inwards 84,600 3.100 B) 1.100 Less: Returns Outwards 117,600 Less Closing stock, 31 December 39,500 Gross profit Add: Discounts received Total Gross Profit D 78,000 1,400 E) Less: Expenses 30,300 4,200 14,700 3,900 2,900 Wages Rates and insurance Salaries General office expenses Bad debts Bad debt provision Discounts allowed Carriage outwards Depreciation: livery vans Office Furniture 500 2,200 4,600 800 2,800 F Net profit 99Step by Step Solution
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