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 £ £