Julie Wreak provides the following trial balance extracted from her books of account on 31 May 20*8:
Question:
Julie Wreak provides the following trial balance extracted from her books of account on 31 May 20*8:
Additional information at 31 May 20*8:
stock was valued at £34,897; wages amounting to £6,238 had not been paid; £600 loan interest remains unpaid; the tenant owes £700 rent receivable; £562 insurance has been paid for the year ending 31 May 20*9; rates paid in advance amounts to £135.
Required
Prepare:
a) A trading and profit and loss account for the year ended 31 May 20*8
b) A balance sheet at 31 May 20*8.
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