The following information relates to A Trader’s business:

During the year, Trader had sold private investments for £4,000 which he paid into the business bank account, and he had drawn out £200 weekly for private use.

Required:

Prepare a profit and loss account for the year ending 31 December 20X9 and a balance sheet as at that date.

Transcribed Image Text:

Assets and liabilities at Fixtures Debtors Stock Creditors Cash Balance at bank Loan from B Burton Motor vehicle 1 January 20X9 f 18,000 4,800 24,000 8,000 760 15,600 6,000 31 December 20X9 £ 16,200 5,800 28,000 11,000 240 4,600 2,000 16,000