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 | ||
| 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 | |
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| 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 |
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