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Q1
Q1
Q2
Write the Income Statement from the Trial Balance Below:
ID
Trial Balance
DR
CR
Capital
£20,000
Stationery
£2,000
Carriage In
£3,400
rent
£15,000
rent
£4,000
Purchases
£30,000
Motor Expenses
£10,000
Premises
£600,000
Cash
£5,000
Returns
£2,000
£2,400
Wages
£60,000
Commissions
£25,000
Vehicles
£50,000
Salaries
£150,000
Bank
£3,000
Accounts Receivable
£15,000
Opening Inventory
£14,000
Insurance
£3,000
Accounts Payable
£13,000
Sales
£850,000
loan
£30,000
Drawings
£7,000
Carriage Out
£3,000
Closing Inventory
9500
Income Statement
£
£
Balance Sheet
£
£
Fixed Assets
Current Assets
Current Liabilities
Fixed Liabilities
Net Assets
Write the Income Statement AND Balance Sheet
from the Trial Balance Below:
ID
Trial Balance
DR
CR
Purchases and Sales
£45,000
£640,000
Mortgage
£120,000
Opening Inventory
£8,000
Salaries
£300,000
Vehicles
£120,000
Drawings
£6,000
Bank
£50,000
Returns
£4,000
£6,000
Loan Interest
£480
Carriage In
£2,000
Capital
£190,980
Motor Expenses
£12,000
Commissions Received
£30,000
IT Equipment
£20,000
Insurance
£5,000
Electricity
£3,000
Rates
£1,500
Carriage Out
£2,600
Premises
£400,000
Loan (repay next year)
£6,000
Cash
£900
Accounts Payable
£12,500
Accounts Receivable
£25,000
Closing Inventory
6700
Income Statement
£
£
Balance Sheet
£
£
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