7.4A Extract a trading and profit and loss account for the year ended 30 June 20X8 forG Graham. The trial balance as at 30 June 20X8 after his first year of trading was as follows:DrCr£9401,8041,9902,35048,580Equipment rentalInsuranceLighting and heating expensesMotor expensesSalaries and wagesSalesPurchases382,420245,950Sundry expensesLorryCreditors62419,40023,408Debtors44,5164,600174,00011,34644,000FixturesShopCash at bankDrawingsCapital194,272600,100600,100Stock at 30 June 20X8 was £29,304.

The Trail Balance for the year ended 30 June, 20X8 is given. Required Prepare Trading and Profit…

7.4A Extract a trading and profit and loss account for the year ended 30 June 20X8 for G Graham. The trial balance as at 30 June 20X8 after his first year of trading was as follows: Dr Cr £ Equipment rental 940 Insurance Lighting and heating expenses Motor expenses 1,804 1,990 2,350 48,580 Salaries and wages Sales 382,420 Purchases 245,950 Sundry expenses Lorry Creditors 624 19,400 23,408 Debtors 44,516 4,600 174,000 11,346 44,000 Fixtures Shop Cash at bank Drawings Capital 194,272 600,100 600,100 Stock at 30 June 20X8 was £29,304.

7.4A Extract a trading and profit and loss account for the year ended 30 June 20X8 for G Graham. The trial balance as at 30 June 20X8 after his first year of trading was as follows: Dr Cr £ Equipment rental 940 Insurance Lighting and heating expenses Motor expenses 1,804 1,990 2,350 48,580 Salaries and wages Sales 382,420 Purchases 245,950 Sundry expenses Lorry Creditors 624 19,400 23,408 Debtors 44,516 4,600 174,000 11,346 44,000 Fixtures Shop Cash at bank Drawings Capital 194,272 600,100 600,100 Stock at 30 June 20X8 was £29,304.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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