1. The Bayview Printers is a Stationery Enterprise in Browns Town. The firm has provided the following accounts details for the year ended April 30,2021.

Cashbook

Receipt from debtors	290,200	Bal b/d	104,500
Commission	87,300	Loan	98,000
Bank Interest	16,000	Payments to Suppliers	111,600
Cash Sales	317,600	Equipment	442,000
Fixtures	377,400	Utilities	11,200
		Drawings	66,700
		Wages	55,000
		Cash Purchases	72,100
		Rent	19,600
		Rates	22,500
		Balance c/d	85,300
	1,088,500		1,088,500

List of balances

Details	May 1	April 30
Stock	34,000	12,500
Loan	196,000	98,000
Land	811,000	811,000
Fixtures	740,000	314,000
Equipment	0	433,000
Creditors	44,700	68,500
Debtors	92,300	52,300
Rates Prepaid	10,100	8,400
Commission prepaid	12,400	19,600
Wages owing	17,400	18,200

Additional notes:

1. Stock taken for personal use amounted $16,200
2. Amounts written off as bad debts totaled $8,700
3. Discount received from credit suppliers and discount given to debtors amounted to $14,800 and $11,100 respectively
4. Return Inwards totaled $22,000
5. A set off of $3,600 was applied to both the sales and purchases ledger.
6. The sale of fixtures was at net book value

Required:

Derive the Trial Balance, statement of profit or loss and statement of financial position for Bayview Printers for the period.

Your solution must include all workings, such as the Statement of affairs and control accounts

Answer rating: 100% (QA)

Statement of Affairs Statement of Affairs of Bayview Printers as of 30th April 2021 Assets Current Assets Cash in Hand and Bank 85300 Debtors 92300 St... View the full answer