The following trial balance has been extracted from the books of Hanif Mohammed:

Additional information at 29 February 20*8
■ Stock was valued at £7,432.
■ Rent owing £200.

Required

a) Prepare a trading and profit and loss account for the year ended 29 February 20*8.
b) Prepare a balance sheet at 29 February 20*8.

Transcribed Image Text:

Trial balance at 29 February 20*8 Cr Stock 1 March 20*7 Purchases Sales Wages Rent Light and heat expenses General expenses Motor expenses Capital Drawings Premises at cost Equipment at cost Delivery van at cost Trade debtors Bank balance Cash in hand Trade creditors Dr £ 8,963 56,817 39,113 2,000 8,617 2,834 4,619 13,500 100,000 16,000 8,000 8,607 1,281 45 270,396 £ 123,601 139,181 7,614 270,396