The following is the trial balance of T. Owen as at 31 March 2016. Draw up a set of financial statements for the year ended 31 March 2016.

Transcribed Image Text:

Dr Cr Inventory: 1 April 2015 52,800 Sales 276,400 Purchases 141,300 Carriage inwards 1,350 Carriage outwards 5,840 Returns outwards 2,408 Wages and salaries 63,400 Business rates 3,800 Communication expenses 714 Commissions paid 1,930 Insurance 1,830 Sundry expenses 208 Buildings Accounts receivable Accounts payable Fixtures 125,000 45,900 24,870 1,106 Cash at bank 31,420 Cash in hand 276 Drawings 37,320 Capital 210,516 514,194 514,194 Inventory at 31 March 2016 was 58,440.