The following trial balance was extracted from the books of Bob Peterson (who is the proprietor...
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The following trial balance was extracted from the books of Bob Peterson (who is the proprietor of a fabric shop) at the end of her financial year 30 April 2020: Trial balance as at 30 April 2020 Dr Cr £ Sales 30,000 Purchases 15,700 13,000 Shop fittings Capital Opening stock Bank 15,000 4,700 610 Cash 100 Shop wages Debtors 4,420 120 Drawings 3,500 Creditors 2,030 Light and heat 260 Rent 4,500 Insurance 120 47,030 47,030 In preparing the year-end accounts, the following should be accounted for: • the stock at the end of the year was valued at £4,400 You are required to: (a) prepare Bob's trading account for the year ended 30 April 2020 (b) prepare Bob's profit and loss account for the year ended 30 April 2020 (c) draft Bob's statement of financial position as at 30 April 2020 The following trial balance was extracted from the books of Bob Peterson (who is the proprietor of a fabric shop) at the end of her financial year 30 April 2020: Trial balance as at 30 April 2020 Dr Cr £ Sales 30,000 Purchases 15,700 13,000 Shop fittings Capital Opening stock Bank 15,000 4,700 610 Cash 100 Shop wages Debtors 4,420 120 Drawings 3,500 Creditors 2,030 Light and heat 260 Rent 4,500 Insurance 120 47,030 47,030 In preparing the year-end accounts, the following should be accounted for: • the stock at the end of the year was valued at £4,400 You are required to: (a) prepare Bob's trading account for the year ended 30 April 2020 (b) prepare Bob's profit and loss account for the year ended 30 April 2020 (c) draft Bob's statement of financial position as at 30 April 2020
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Requirements a Prepare trading account b Prepare profit and loss account c Draft statement of financ... View the full answer
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