prepare the statement of profit or loss and the statement of financial position for the period under review. for use in the financial statements, closing stock amounts to $25,000 at the end of the month

N.B SECOND IMAGE HIGHLIGHTS THE ADJUSTMENTS TO BE ADDED TO THE TRIAL BALANCE BEFORE STATEMENTS ARE COMPLETED

Trail Balance Dr. Particulars Amount Amount Cash als 43,750.00 Bankas 101,000.00 Motor Vehicle ac 120,000.00 Building a/c 250,000.00 Furniture ac 200,000.00 Inventory (Purchases) a/c 230,200.00 Nordstrom (Debtors) a/c 89,500.00 Expenses aic 15,000.00 Discount Allowed 5,250.00 Neiman Marcus Debtors) a'c 65,000.00 Stationeries alc 21,000.00 Advertising Expenses are 50,000.00 Return Inward alc 5,500.00 Electricity Charges a/c 60.000.00 Water rates alc 25.000.00 Security fees a/c 25,000.00 Staff Salaries a/c 85,000.00 Drawings a/c 15,000.00 Capital a/c 420,000.00 Long term loan- First Union Bank 260,000.00 Sales Alc 510,000.00 Outstanding rent a/c 15,000.00 Return outward a/c 6,000.00 Courts Ltd (Creditors) 150,000.00 Manolo Blahnik (Creditors) 35,200.00 Commission received a/c 20,000.00 1.416,200.00 1.416,200.00 X Accounts Assignment Excel out Data RA View Tell me what you want to do - Normal Bad Good Okeini. Law Share AutoSum - Fill - Sort & Find & Clear - Filter - Select Editing EP Wiap lest General Merye & Center - $ AT O A Calculation Insert Delete Format Check Call Conditional Format as Neutral Formatting Table Alignment Number Styles Celle H K M N 0 P R R 5 T U V Question Water Charges Alc Debit Credit Outstanding Water Charges Debit Date Salary Suspense NC Debit Salary Date Credit Date Credit Date Debit Credit 30-5-2021 5000 30 5.2021 5000 30-5-2021 4500 30 5 2021 4500 Date Furniture Debit Credit Motor vehicle Debit Depreciation Date Building Debit Credit Date Credit Date Debit Credit 30 5-2021 1250 30-5 2021 1500 30-5-2021 1875 30-5 2021 4625 Cash Debit Date 30-5-2021 Credit Date 30-5-2021 Bad Debts Debit 1000 Credit Date Insurance Premium Nc Debit 4000 4000 Credit 30-5-2021 Date 30-5-2021 Question 2 Commission Debit Credit 3000 Question 3 Sheet1 Neiman Marcus Date 30-5-2021 Credit 4000 Commision Rec in Advance Debit Date 30-5-2021 Credit 3000 o BI 07 1004 WE 28C Mostly clear A B D 46) 11:32 PM 11/14/2021 12