The following trial balance was extracted from the books of Rodney, a sole trader as at...

 
 

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The following trial balance was extracted from the books of Rodney, a sole trader as at 31.12.15 Dr Cr 15,550 Capital 1.1.14 Drawings Accounts receivables and accounts payables Sales Purchases Inventory (1.1.14) Rates Heat and light Wages Bank debts Provision for bad debts General expenses Motor expenses Premises at cost Fixtures and fittings Vehicles Provision for depreciation: Premises Bank Loan Total Fixtures and fittings Vehicles Required 4,660 6,530 > Premises -2% on cost 29,760 4,340 800 Fixtures & fittings - 10% on cast Vehicles-20% reducing balance method 2,550 8,250 230 2,340 3,240 30,000 8,000 12,000 820 1) inventory 31.12.2015 £4,870. 2) Light and heat due 31.12.2015 £120, general expenses due £80. 3) Depreciation is to be provided given as helow: 113,670 5,210 71,230 The following matters have not been taken into account in the preparation of the above trial balance: 230 2,400 1,600 5,400 12,000 113,670 Prepare income statement and statement of financial position for the year ended 31st December 2015. The following trial balance was extracted from the books of Rodney, a sole trader as at 31.12.15 Dr Cr 15,550 Capital 1.1.14 Drawings Accounts receivables and accounts payables Sales Purchases Inventory (1.1.14) Rates Heat and light Wages Bank debts Provision for bad debts General expenses Motor expenses Premises at cost Fixtures and fittings Vehicles Provision for depreciation: Premises Bank Loan Total Fixtures and fittings Vehicles Required 4,660 6,530 > Premises -2% on cost 29,760 4,340 800 Fixtures & fittings - 10% on cast Vehicles-20% reducing balance method 2,550 8,250 230 2,340 3,240 30,000 8,000 12,000 820 1) inventory 31.12.2015 £4,870. 2) Light and heat due 31.12.2015 £120, general expenses due £80. 3) Depreciation is to be provided given as helow: 113,670 5,210 71,230 The following matters have not been taken into account in the preparation of the above trial balance: 230 2,400 1,600 5,400 12,000 113,670 Prepare income statement and statement of financial position for the year ended 31st December 2015.

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Capital Drawings Accounts receivables and accounts payables Sales Purchases Inventory 1114 Rates Hea... View the full answer