The following is the trial Balance of Newland Traders as at 30th September, 2021 Sales 100 000, purchase returns 1000, inTeresa on mortgage 2 500, office -wages 20 000, insurance 2 400, Goodwill 15 000, land and building 50 000, Equipment 20 000, Accumulated Deprecated - Equipment 6 000, office Furniture 5 000, cash at Bank 26 000, sales returns 3 000, Drawings 15 000, capital -Tom and John is 60010, office expenses 4 430, interest received 1 260, Debtors 14 500, creditors 14 520, inventories 22 000, purchases 60 000, Adversting 5 000, provisions for Doubtful Debts 1 500, mortgage 30 000, stationery 2 650, lighting 5620, customs Duty 1200

Additional information

 1. Inventories 30-09-2021-$20 0002. The partners Tom and John share the profits and losses at a ratio of 7:3 respectively.

REQUIRED:

1. Preparea) A Trading Accountb) A profit and Loss Accountc) A Balance Sheetn