Complete question 7.1 by drawing up a balance sheet as at 31 December 20X6.

Data from Question 7.1

From the following trial balance of A Moore, extracted after one year’s trading, prepare a trading and profit and loss account for the year ended 31 December 20X6. A balance sheet is not required.

Stock at 31 December 20X6 was £12,408.

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Sales Purchases Salaries Motor expenses Rent Insurance General expenses Premises Motor vehicles Debtors Creditors Cash at bank Cash in hand Drawings Capital Trial Balance as at 31 December 20X6 Dr £ 119,832 56,527 2,416 1,894 372 85 95,420 16,594 26,740 16,519 342 8,425 345,166 Cr £ 190,576 16,524 138,066 345,166