Desmond's trial balance at 31 March 2004 was as follows.

Further information 

1. Stock at 31 March 2004 was valued at $11 000. 

2. Expenses owing at 31 March 2004 were: rent payable $2000; carriage inwards $330; carriage outwards $280. 

3. Sundry expenses of $200 had been paid in advance; interest receivable of $160 had accrued. 

4. At 31 March 2004, rent receivable of $200 had been received in advance. 

Required 

(a) Prepare Desmond's Trading and Profit and Loss Account for the year ended 31 March 2004. 

(b) Prepare the Balance Sheet at 31 March 2004.

Transcribed Image Text:

$ nt and Machinery oizivo 36000 Plant Motor Vehicles Stock Trade Debtors Bank Trade Creditors Capital Drawings Sales Purchases Sales Returns Purchases Returns Wages Rent Payable Rent Receivable Interest Receivable Discounts Allowed Discounts Received Carriage Inwards Carriage Outwards Sundry Expenses 17 2192-9000 01J1507190 1ST THISION OF 7 060 5 400 22 088 100 100 17 420 2 826 $ 5 170 to 7 920 1.963 306 947 3 950 70 000 8 777 Spoilsisi 67000 16dw [T 8.000 219 740 2 6000 840 1 040 306 947