Prepare Trina Haldane’s Statement of Profit or Loss for the period..

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
ParticularsDr Cr 
Capital200,000
Drawings12,000
Bank balance5,500
Cash in hand7,000
Accounts receivables40,000
Accounts payable55,000
Inventory: Opening18,000
Premises150,000
Motor Vehicle90,000
Fixtures and Fittings65,000
Sales255,600
Purchases130,000
Returns inwards7,500
Carriage outwards4,500
Carriage inwards6,500

 

 

12

 

Returns outwards11,500
Motor expenses10,400
Rent Received20,000
Telephone charges12,000
Wages and salaries34,000
Insurance10,600
Commission Received14,800
Bad Debt2,500
Provision for depreciation: Motor Vehicle20,000
Provision for depreciation: Fixtures and Fittings25,000
Provision for doubtful debt3,600
Total605,500 605,500 

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