Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items
From the following trial balance of G Musandu, draw up a trading and profit and loss account for the year ended 30 September 20X9, and a balance sheet as at that date.
G Musandu
Trial Balance as at 30 September 20×8
| DR | CR | |
|---|---|---|
| $ | $ | |
| Stock 1 October 20x8 | 41600 | |
| Carriage outwards | 2100 | |
| Returns Inwards | 3700 | |
| Carriage inwards | 1540 | |
| Returns outwards | 3410 | |
| Purchases | 188430 | |
| 380400 | ||
| Salaries and wages | 61400 | |
| Warehouse rent | 3700 | |
| Insurance | 1356 | |
| Motor expenses | 1910 | |
| Office expenses | 412 | |
| Lighting and heating expenses | 894 | |
| General expenses | 245 | |
| Premises | 92000 | |
| Motor vehicles | 13400 | |
| Fixtures and Fitting | 1900 | |
| Debtors | 42560 | |
| Creditors | 31600 | |
| Cash at Bank | 5106 | |
| Drawings | 22000 | |
| Capital | 68843 | |
484253 | 484253 |
The Trading and Profit and Loss Account (Income Statement) solution is found here
The Balance Sheet solution is found here
To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes.
