Siobhan Murgatroyd has extracted the following trial balance from her books of account:

Additional information at 31 July 20*8
■ Stock was valued at £1,166.
■ Insurance paid in advance amounted to £315.

Required

a) Prepare a trading and profit and loss account for the year ended 31 July 20*8.
b) Prepare a balance sheet at 31 July 20*8.

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Trial balance at 31 July 20*8 Dr Stock 1 August 20*7 Purchases Sales Wages Rent and rates Insurances Motor expenses Advertising General expenses Equipment at cost Delivery vehicle at cost Trade debtors Bank balance Cash in hand Capital Drawings Trade creditors £ 840 34,872 41,483 6,490 1,840 4,238 2,761 11,218 14,260 32,700 Cr £ 97,121 8,641 2,884 236 72,718 16,340 8,964 178,803 178,803