TRIAL BALANCE
Particulars			DR	CR
			$	$
Capital				190,000
Cash			7,500
Motor Vehicle		127,400
Bank			50,000
VNB Loan				260,000
Furniture			54,000
Merchandise Purchases	245,000
Display Cabinet		136,500
Merchandise Sales			53,000
Designer C				105,000
Dee Fifth				95,000
Lee Button			80,000
Tom Ford				80,000
Stationery			12,000
Return Outwards			5,000
Design Collection		100800
Discount Allowed		4,200
Return Inwards		4500
Salary			91,500
Drawings			18,500
Discount Received			6,000
Commission Received			11,400
Provision for bad debt			126500
			931900	931900

Prepare the Statement of Profit and Loss (35 Marks)

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Answer rating: 100% (QA)

Statement of Profit and Loss Particulars Amount Merchandise Sales 53000 Less Cost of Goods Sold Merc... View the full answer