From the following trial balance of A Westwood, you are asked to draw up a statement of comprehensive income for the year ended 30 June 2003.

Additional information:
1 Inventory as at 30 June 2003 was valued at £10,660.
2 Depreciation is to be provided as follows: Premises 10%, Equipment 20% (both on cost).
3 A provision for doubtful debts is to be created at 5% of trade receivables at the year-end.
4 Accrued rent was £211 as at 30 June 2003.
5 Insurance paid in advance was £120 as at 30 June 2003.

Transcribed Image Text:

Sales Purchases Inventory as at 1 July 2002 Premises Equipment Returns inwards Bank Wages Insurance Rent Advertising Capital Drawings Returns outwards Trade receivables Trade creditors Dr 23,000 8,550 75,000 18,000 340 1,280 6,950 390 1,350 260 10,450 6,500 152,070 Cr 52,000 94,660 450 4,960 152,070