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Please type your answer clearly and in detail 22.10A J. Wright, a sole trader, extracted the following trial balance from his books at the close
Please type your answer clearly and in detail
22.10A J. Wright, a sole trader, extracted the following trial balance from his books at the close of business on 31 March 2019: Cr 61.420 7.940 127,245 23,930 2.490 Purchases and sales Inventory 1 April 2018 Capital 1 April 2018 Bank overdraft Cash Discounts Returns inwards Returns outwards 140 2,480 3,486 62 1,356 Chapter 22 Cr Carriage outwards 3,210 Rent and insurance 8,870 Allowance for doubtful debts 630 Fixtures and fittings at cost 1,900 Van at cost 5,600 Flutures and fittings accumulated depreciation at 1.4.18 570 Van: accumulated depreciation at 1418 700 Accounts receivable and accounts payable 12,418 11,400 Drawings 21,400 Wages and salaries 39,200 General office expenses 319 168383 168,383 Notes (a) Inventory 31 March 2019 66,805 (b) Wages and salaries accrued at 31 March 2019 3,500; Office expenses owing 16. (c) Rent prepaid 31 March 2019 600 Id increase the allowance for doubtful debts by E110 to 740 le) Provide for depreciation as follows: Fixtures and fittings E190; Van 1,400 Required Prepare the income statement for the year ending 31 March 2019 together with a balance sheet as at that dateStep by Step Solution
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