The following is a summary of Jane’s bank account for the year ended 31 December 20X2:

All of the business takings have been paid into the bank with the exception of £17,400. Out of this, Jane has paid wages of £11,260, drawings of £1,200 and purchase of goods £4,940. The following additional information is available:

You are to draw up a set of financial statements for the year ended 31 December 20X2. Show all of your workings.

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Balance 1.1.20X2 Receipts from debtors Balance 31.12.20X2 £ 4,100 91,190 6,300 101,590 Payments to creditors for goods Rent Insurance Sundry expenses Drawings £ 67,360 3,950 1,470 610 28,200 101,590