Helen supplies the following information for the year ended 31 March 20*8: stock at 1 April 20*7

Question:

Helen supplies the following information for the year ended 31 March 20*8:

stock at 1 April 20*7 £1,554; stock at 31 March 20*8 £977; purchases £23,887; sales £51,311; returns inward £367; returns outward £541; wages £8,712; rates £2,350; heat and light £1,458; advertising £2,350; insurances £2,005; general expenses £4,637.


Required

Prepare a trading and profit and loss account for the year ended 31 March 20*8.

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