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I am stuck as to find out the bank and other incomplete records. (a) Fill the gaps in the following trading statement. You can use
I am stuck as to find out the bank and other incomplete records.
(a) Fill the gaps in the following trading statement. You can use a calculator to complete the question. Trading Statement for six months ended 31-Dec-11 181,400.00 Sales Less Sales Returns 6,100.00 Net Sales Less Cost of Goods Sales Gross Profit Less Stock Loss Adjustment Gross Profit 187,500.00 138,800.00 48,700.00 $1,500.00 $47,200.00 (b) Fill in the gaps in the balance sheet. You can use a calculator to complete the question. Balance for six months ended 31-Dec-11 Current Assets Bank Debtors Stock Total Assets 50.000.00 65,000.00 Non Current Assets Motor Vehicle Less accumulated depreciation Premises Total Non Current Assets 48,000.00 -12,000.00 250,000.00 286,000.00 Current Liabilities Creditors Short term loan 5,000 Total Current Liabilities Equity Capital Plus profit Less Drawings Total Equity 50,000.00 -40,000.00 Closing Capital = Opening Capital + Net profit - DrawingStep by Step Solution
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