From the following balances extracted from the books of X & Co., Prepare a trading and profit and loss account and balance sheet on 31st December, 1991

Questio From the following balances extracted from the books of X & Co., Prepare a trading and profit and loss account and balance sheet on 31st December, 1991 $ 11.000 4500 Stock on 1st January Bils receivables Purchases Wages Insurance 39,000 2800 700 Returns outcards Trade expenses Offca futures Cash in hand Cash at bank Tent and taxes Carriage ostvards $ 500 200 1000 500 4,750 1.100 Sundry debtors Cariage hards 30,000 800 800 700 Sales Commission (Dr.) Interest on capital Stationary Returns invards The stock on 21st December, 1991 was valued at $25.000 Bils payable Creditors Capital 1450 60.000 3,000 19.650 17.900 1,300