J Wright, a sole trader, extracted the following trial balance from his books at the close of business on 31 March 20X9:

Notes:

(a) Stock 31 March 20X9 £6,805.

(b) Wages and salaries accrued at 31 March 20X9 £3,500; Office expenses owing £16.

(c) Rent prepaid 31 March 20X9 £600.

(d) Increase the provision for doubtful debts by £110 to £740.

(e) Provide for depreciation as follows: Fixtures and fittings £190; Van £1,400.

Required:

Prepare the trading and profit and loss accounts for the year ended 31 March 20X9 together with a balance sheet as at that date.

Transcribed Image Text:

Purchases and sales Stock 1 April 20X8 Capital 1 April 20X8 Bank overdraft Cash Discounts Returns inwards Returns outwards Carriage outwards Rent and insurance Provision for doubtful debts Fixtures and fittings Van Debtors and creditors Drawings Wages and salaries General office expenses Dr £ 61,420 7,940 140 2,480 3,486 3,210 8,870 1,900 5,600 12,418 21,400 39,200 319 168,383 Cr £ 127,245 25,200 2,490 62 1,356 630 11,400 168,383