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Homework 3: Write the Income Statement and Balance Sheet from the Trial Balance Below.
Estimated Score
Your Score:
Trial Balance
DR
CR
Purchases
£35,600
Electricity
£1,500
Cash
£2,500
Rent
£12,700
£4,300
Opening Inventory
£14,600
Premises
£350,000
Sales
£135,000
Sundry Expenses
£3,600
Wages
£45,000
Loan Interest
£2,400
Returns
£950
£2,700
Commissions
£4,500
£870
Capital
£501,800
Vehicles
£60,000
Loan (Repay in 5 years)
£35,000
Carriage In
£2,100
Carriage Out
£1,400
Business Rates
£700
Drawings
£820
Accounts Receivable
£7,400
Accounts Payable
£5,600
Land
£140,000
Bank
£500
Closing Inventory
7300
Income Statement
£
£
Balance Sheet
£
£
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