Test your understanding one Introduction to Published Accounts P Popkin, a sole trader extracted the following trial balance from his books at the close of business on 30 May 20X9 DR CR $ 000 $ 000 Stock 1 June 20X8 9,289 80 Capital 1 June 20X8 29,484 00 Bank Overdraft 2,913 30 Debtors Creditors 14,529 06 13,338 00 Cash at hand 163 80 Motor Vehicle 6,552 Fixtures Fittings 2,223 Purchases Sales 71,861 40 148,876 65 Discounts 2,901 60 72 54 Returns inwards 4,078 62 Returns outwards 1,586 52 Carriage outwards 3,755 70 Advertisement 10,377 90 Provision for doubtful debts 737 10 Drawings 25,038 Wages Salaries 45,864 Printing Stationary 373 23 Total 197,008 11 197,008 11 Additional Information Stock on 31 May 20X9 $ 1,961 85 By the end of the year to 31 May 20X9, Salaries totaling to $ 4,095 had not been paid Stationary Printing for June and July 20X9 had been paid in advance by $ 25 20 Decrease the provision for doubtful debts to $ 584 20 Provide depreciation of 5 on furniture and fittings and 2 5 on motor vehicles Required Prepare Profit Loss accounts for the year ended 31 March 20X9 together with a statement of Financial Position as at that date please SHOW WORKINGS

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Test your understanding one Introduction to Published Accounts.

P. Popkin, a sole trader extracted the following trial balance from his books at the close of business on 30 May 20X9.

	DR	CR
	$ 000	$ 000
Stock 1 June 20X8	9,289.80
Capital 1 June 20X8		29,484.00
Bank Overdraft		2,913.30
Debtors & Creditors	14,529.06	13,338.00
Cash at hand	163.80
Motor Vehicle	6,552
Fixtures & Fittings	2,223
Purchases & Sales	71,861.40	148,876.65
Discounts	2,901.60	72.54
Returns inwards	4,078.62
Returns outwards		1,586.52
Carriage outwards	3,755.70
Advertisement	10,377.90
Provision for doubtful debts		737.10
Drawings	25,038
Wages & Salaries	45,864
Printing& Stationary	373.23
Total	197,008.11	197,008.11

Additional Information:

Stock on 31 May 20X9 $ 1,961.85
By the end of the year to 31 May 20X9, Salaries totaling to $ 4,095 had not been paid.
Stationary & Printing for June and July 20X9 had been paid in advance by $ 25.20
Decrease the provision for doubtful debts to $ 584.20
Provide depreciation of 5% on furniture and fittings and 2.5% on motor vehicles.

Required:

Prepare Profit & Loss accounts for the year ended 31 March 20X9 together with a statement of Financial Position as at that date.

please SHOW WORKINGS!!!!!!!