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Below is the trial balance of Richard as at 31st Dec 2022, who runs a small business Trial Balance as at 31st Dec 2022

Below is the trial balance of Richard as at 31st Dec 2022, who runs a small business

Trial Balance as at 31st Dec 2022

££
Sales387000
Purchases230000
Stock (31st Dec 2021) Vehicle3100
Vehicle7000
Equipment5000
Machinery9500
Premises67500
Debtors12630
Creditors8620
Bank23340
Cash450
Wages25500
Insurance2350
Rent & rates11400
Advertising2660
Heat & Light1344
Stationery615
Bad debt631
Cash introduced20000
Drawings12600
415620415620

Additional information

 Stock at 31st Dec 2022 £3,560

Required:


a. Prepare a Trading, Profit & Loss Account for Richard for the year to 31st Dec 2022.

b. Prepare the Balance Sheet for the same period.


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a Trading Profit Loss Account for the year ended 31st Dec 2022 Sales387000 Less Cost of Goods So... blur-text-image

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