The following trial balance was extracted from the books of IT Mann, a sole trader who runs a computer store, on the 30 April 2008

Credit

Premises at cost

65,000

15,500

Office equipment at cost

Debtors

37,653

Creditors

14,000

Motor expenses

11,020

Bankk

14,000

Cash

742

30,885

Drawings

2,960

15-year bank loan

15,000

Carriage outwards

580

Stock

25,200

Electricity

3.250

Rent

15,000

34,000

Purchases

200,005

Sales

356,272

3,434

Interest on loan

2,000

Discounts allowed & received

1,798

640

Insurance

3,525

Returns inwards

350

Returns outwards)

170

Provision for depreciation on

Premises

12,000

10,240

Office equipment

Carriage inwards

Provision for doubtful debts

320

530

437.737

432.737

Additional information

The dosing stock at 30 April 2008 was estimated at 31,282

Depreciation is to be charged on Premises at 10% on cost and on Office equipment at 20% on cost.

Insurance prepaid was E60.1

Motor expenses outstanding were 150 on the 30 April 2008,

Salaries accrued by E564.

E560 rent has been paid in advance on the 30 Apr 2008

The provision for doubtful debts is to be increased to 750

REQUIRED:

Prepare a Trading, Profit and Loss Account for the year ended 30 April 2008 and a Balance Sheet as at that date, taking into account the above adjustments