Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Sole Trader: Simple Statement of Financial Position Example 1
- From the following trial balance of S Madondo, extracted after one year’s trading, prepare a trading and profit and loss account for the year ended 31 December 20X6 and a Statement of Financial Position as at 31 December 20×6
|Cash at bank||16519|
|Cash in hand||342|
Inventory at 31 December 20X6 was $12,408
- The Trading and Profit and Loss Account(Income Statement) for this question can be found here.
Statement of Financial Posotion as at 31 December 20×6
|Capital (Balance at the beginning of the year)||138066|
|Add Net Profit||
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