Nora Ferbers trial balance at 30 June 20X3 was as follows:

The following information is relevant:

1. Rent expense for the year ended 30 June 20X3 was 60,000.

2. Rates expense for the year ended 30 June 20X3 was 24,000.

3. The depreciation charge for the year is to be 20 per cent of the reducing balance.

4. Bad debts of 1,500 are to be written off and the provision against doubtful debts is to be adjusted to 10 per cent of debtors.

5. Wages payable at 30 June 20X3 amounted to 1,260.

6. The stock figure of 120,000 is made up as follows:

Required:

Prepare Nora Ferbers profit and loss account for the year ended 30 June 20X3 and her balance sheet as at that date.

UnitsTypeATypeBTypeCCost40,00050,000120,00030,000146,000Netrealisablevalue60,00042,00044,000