B Moore's Trial Balance as at 30 September 2021 Particulars DR £ CR £ Cash at Bank £45000 Cash in Hand £6800 Accounts receivable(Debtors) £8000 Accounts Payable( Creditors) £14500 Inventory 30 September 2020 £18000 Car £25000 Drawings £7500 Fixtures and Fittings £18500 Sales £95000 Purchases £110000 Return Inwards (Sales returns) £3500 Carriage inwards £890 Return Outwards ( Purchase returns) £720 Carriage outwards £500 Motor Expenses £1400 Rent £7000 Telephone charges £830 Wages and Salaries £14000 Insurance £1030 Office Expenses £800 Sundry Expenses £250 Capital £158780 £269 000 £269 000 Inventory as at 30 September 2021 is £13 000 Required: a) Prepare an Income Statement for B Moore for the year ending 30th September 2021 b) The following table shows the profit/loss for B Moore profitable since year 2013 Year 2013 2014 2015 2016 2017 2018 2019 2020 Profit/Loss £55800 £77100 £85500 £98400 £87600 £97200 £112400 (£65400) Due to the coronavirus pandemic, comparing the above years Income statements, explain wheter your predict increase/decrease on the loss/profir of the years 2021 ( Maximum of 200 words)
B Moore's Trial Balance as at 30 September 2021 Particulars DR £ CR £ Cash at Bank £45000 Cash in Hand £6800 Accounts receivable(Debtors) £8000 Accounts Payable( Creditors) £14500 Inventory 30 September 2020 £18000 Car £25000 Drawings £7500 Fixtures and Fittings £18500 Sales £95000 Purchases £110000 Return Inwards (Sales returns) £3500 Carriage inwards £890 Return Outwards ( Purchase returns) £720 Carriage outwards £500 Motor Expenses £1400 Rent £7000 Telephone charges £830 Wages and Salaries £14000 Insurance £1030 Office Expenses £800 Sundry Expenses £250 Capital £158780 £269 000 £269 000 Inventory as at 30 September 2021 is £13 000 Required: a) Prepare an Income Statement for B Moore for the year ending 30th September 2021 b) The following table shows the profit/loss for B Moore profitable since year 2013 Year 2013 2014 2015 2016 2017 2018 2019 2020 Profit/Loss £55800 £77100 £85500 £98400 £87600 £97200 £112400 (£65400) Due to the coronavirus pandemic, comparing the above years Income statements, explain wheter your predict increase/decrease on the loss/profir of the years 2021 ( Maximum of 200 words)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
B Moore's
| Particulars | DR £ | CR £ |
| Cash at Bank |
£45000 |
|
| Cash in Hand | £6800 | |
| £8000 | ||
| Accounts Payable( Creditors) | £14500 | |
| Inventory 30 September 2020 | £18000 | |
| Car | £25000 | |
| Drawings | £7500 | |
| Fixtures and Fittings | £18500 | |
| Sales | £95000 | |
| Purchases | £110000 | |
| Return Inwards (Sales returns) | £3500 | |
| Carriage inwards | £890 | |
| Return Outwards ( Purchase returns) | £720 | |
| Carriage outwards | £500 | |
| Motor Expenses |
£1400 |
|
| Rent | £7000 | |
| Telephone charges | £830 | |
| Wages and Salaries | £14000 | |
| Insurance | £1030 | |
| Office Expenses | £800 | |
| Sundry Expenses | £250 | |
| Capital | £158780 | |
| £269 000 | £269 000 |
Inventory as at 30 September 2021 is £13 000
Required:
a) Prepare an Income Statement for B Moore for the year ending 30th September 2021
b) The following table shows the
| Year | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
| Profit/Loss | £55800 | £77100 | £85500 | £98400 | £87600 | £97200 | £112400 | (£65400) |
Due to the coronavirus pandemic, comparing the above years Income statements, explain wheter your predict increase/decrease on the loss/profir of the years 2021 ( Maximum of 200 words)
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