Sole Trader: Simple Statement of Financial Position Example 1
ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Simple Balance Sheet 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 balance sheet as at 31 December 20×6
Inventory at 31 December 20X6 was $12,408
Solution
- The […]
Overdraft receipt. Note an overdraft is an asset to the bank. Image credit
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