Lottie Chum provides the following trial balance extracted from her books of account on 31 October 20*8, after her first year of trading.

Additional information at 31 October 20*8:
stock was valued at £11,096; heating and lighting owing amounted to £329.

Required

Prepare:

a) A trading and profit and loss account for the year ended 31 October 20*8
b) A balance sheet at 31 October 20*8.

Transcribed Image Text:

Capital Drawings Purchases Sales Motor expenses Wages Heating and lighting Rates General expenses Premises at cost Equipment at cost Van at cost Trade debtors Trade creditors Bank overdraft Cash in hand Dr £ 17,500 67,431 5,700 84,532 4,632 1,280 8,349 45,000 18,000 6,500 4,673 230 263,827 Cr £ 92,112 165,997 5,342 376 263,827