Prepare Trina Haldane’s Statement of Profit or Loss for the period ended 31 December 2014 and Statement of Financial Position as at that date.
| Trina Haldane’s unadjusted Trial Balance as at 31 December 2014 | ||
| Particulars | Dr | Cr |
| Capital | 200,000 | |
| Drawings | 12,000 | |
| Bank balance | 5,500 | |
| Cash in hand | 7,000 | |
| Accounts receivables | 40,000 | |
| Accounts payable | 55,000 | |
| Inventory: Opening | 18,000 | |
| Premises | 150,000 | |
| Motor Vehicle | 90,000 | |
| Fixtures and Fittings | 65,000 | |
| Sales | 255,600 | |
| Purchases | 130,000 | |
| Returns inwards | 7,500 | |
| Carriage outwards | 4,500 | |
| Carriage inwards | 6,500 | |
12
| Returns outwards | 11,500 | |
| Motor expenses | 10,400 | |
| Rent Received | 20,000 | |
| Telephone charges | 12,000 | |
| Wages and salaries | 34,000 | |
| Insurance | 10,600 | |
| Commission Received | 14,800 | |
| Bad Debt | 2,500 | |
| Provision for depreciation: Motor Vehicle | 20,000 | |
| Provision for depreciation: Fixtures and Fittings | 25,000 | |
| Provision for doubtful debt | 3,600 | |
| Total | 605,500 | 605,500 |