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Hi can I get a full detailed answer for the following exercise please ? From the following trial balance for Lark, produce a statement of

Hi can I get a full detailed answer for the following exercise please ?

From the following trial balance for Lark, produce a statement of comprehensive income for the period ending 30 September 2017 and a statement of financial position as at that date. Inventory at 30 September 2017 was valued at 53,673

Dr Cr

Sales 534,534

Purchases 412,312

Returns inwards 5,435

Returns outwards 4,233

Carriage inwards 989

Carriage outwards 2,123

Inventory as at 1 October 2016 67,809

Plant 55,000

Motor van 19,800

Trade receivables 43,242

Trade payables 32,132

Bank 19,809

Power costs 23,432

Wages 42,423

Business rates 8,723

Marketing expenses 5,132

Debentures 75,000

Capital 121,211

Drawings 27,656

Maintenance 6,805

Sundry income 18,980

Equipment 45,400

786,090 786,090

Complete the tables:

E Soormally Statement of comprehensive income for period ending 30 September 2017

Sales

Less Return Inwards

Net Turnover

Less Cost of Goods sold

Opening Inventory

Add Purchases

Less Returns Outwards

Add Carriage Inwards

Less closing Inventory

Gross Profit

Add Sundry Income

Less Expenses

Power Cost

Wages

Business rates

Carriage outwards

Maintenance

Mkt expenses

Net Profit

E Soormally Statement of Balance financial position as at 30 September 2017

Current Assets

Inventory

Trade R

Banks

Non-Current Assets

Plant

Equipment

Motor Van

TOTAL ASSETS

Current Liabilities

Trade P

Non-Current Liabilities

Long Term Loan

Equity

Capital

NOPAT

Drawings

TOTAL L+E

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