Trial Balance Income Statement Balance Sheet Trial Balance for John Reade as at 31st December 2015 John Reade Trial Balance as at 31" December 2015 E E Sales Returns Inwards Opening Inventory Purchases 750245 22300 85432 285633 Returns Outwards 20400 Carriage Inwards 4545 Discount Received 2450 Allowance for Doubtful Debts 1545 Insurance 13000 Salaries 94500 Rent 24000 Bad Debts 750 Carriage Outwards 900 Depn-Machinery 70000 Depn Motor Vehicles 40250 Machinery 175000 Motor Vehicles 80500 Accounts Receivable 64350 Bank 123758 Cash 847 Accounts Payable 6% Loan 34952 55000 Loan Interest 2750 Mortgage Capital 55723 Drawings 52300 1030565 1030565 Additional information: 1 Inventory as at 31 December 2015 is worth E72300. 2 Allowance for doubtful debts is to be provided at 3% of Accounts Receivable. 3 The company provides for depreciation as follows: Machinery at 10% on a straight line basis. Motor Vehicles at 30% using the reducing balance method. 4 Insurance includes a prepayment of 1000. 5 Salaries of 7500 are owed to the company's employees. 6 There are 2 months interest owing on the loan which is repayable on 31 July 2016. Trial Balance Income Statement Balance Sheet Trial Balance for John Reade as at 31st December 2015 John Reade Trial Balance as at 31" December 2015 E E Sales Returns Inwards Opening Inventory Purchases Returns Outwards 750245 22300 85432 285633 20400 Carriage Inwards 4545 Discount Received 2450 Allowance for Doubtful Debts 1545 Insurance 13000 Salaries 94500 Rent 24000 Bad Debts 750 Carriage Outwards 900 Depn-Machinery 70000 Depn Motor Vehicles 40250 Machinery 175000 Motor Vehicles 80500 Accounts Receivable 64350 Bank 123758 Cash 847 Accounts Payable 34952 6% Loan 55000 Loan Interest 2750 Mortgage Capital Drawings 0 55723 52300 1030565 1030565 Additional information: 1 Inventory as at 31 December 2015 is worth 72300. 2 Allowance for doubtful debts is to be provided at 3% of Accounts Receivable. 3 The company provides for depreciation as follows: Machinery at 10% on a straight line basis. Motor Vehicles at 30% using the reducing balance method. 4 Insurance includes a prepayment of 1000. 5 Salaries of 7500 are owed to the company's employees. 6 There are 2 months interest owing on the loan which is repayable on 31 July 2016. Trial Balance Income Statement Balance Sheet Balance Sheet for John Reade as at 31st December 2015 Non-current Assets Property Equipment Current Assets Inventory Trade Receivables Prepayments Current Liabilities Trade Payables Bank Overdraft Accruals WORKING CAPITAL Total Assets Non-current Liabilities Mortgage on property NET ASSETS FINANCED BY Capital Net Profit Less: Drawings CAPITAL EMPLOYED At Cost Depreciation 0 0 Net Book Value 0 0 0 0 0 0