The following trial balance was extracted from the accounts of C Wattison as at 31 December 2013.
Question:
The following trial balance was extracted from the accounts of C Wattison as at 31 December 2013. From this, construct a statement of comprehensive income for the year ended 31 December 2013 and a statement of financial position as at the year-end date.
Additional information:
1 Inventory in trade as at 31 December 2013 was valued at £13,420.
2 Wages and salaries accrued as at 31 December amounted to £799.
3 Insurance prepaid as at the year-end totalled £190.
4 Heating and lighting prepaid as at the year-end totalled £312.
Transcribed Image Text:
Dr Cr Opening inventory 12,560 Sales 119,000 Purchases 71,500 Insurance 8,930 Heating and lighting 2,360 Wages and salaries 23,400 Property 74,000 Plant 7,560 Trade receivables 8,340 Trade payables 7,431 Bank 2,210 Capital 91,312 Drawings 6,883 217,743 217,743
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Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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