S. Green drew up the following Trial Balance as at 30 September 2020: direct debit (DR)credit(CR)capital 45.000drawings 14.500 cash at bank29.000 cash in hand3.500 accounts receivable(debtors)52.000 accounts payable(creditors) 12.000inventory stock 30/09/201836.000 van 21.000 fixtures and fittings18.000 sales 700.000purchases450.000 return inwards(sales return)2.000 carriage inwards810 return outwards(purchase returns) 600carriage outwards 2.400 motor expenses1.500 rent54.000 telephone charges 540 wages and salaries 71.000 insurance 750 office expenses 400 sundry expenses200 757.600757.600 Inventory as at 30 September 2019 was £40,000.Required FOR PART A & B need help ,pls!a. Draft an Income Statement for S. Keyes for the year ending 30th September 2020b.. Construct a Statement of Financial Position (Balance Sheet) for S. Keyes as at 30 September2020

Name: S. Green drew up the following Trial Balance as at 30 September 2020:
Uploaded: 2024-03-04T10:43:15.000Z
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Description: S. Green drew up the following Trial Balance as at 30 September 2020: direct debit (DR)credit(CR)capital 45.000drawings 14.500 cash at bank29.000 cash in hand3.500 accounts receivable(debtors)52.000 accounts payable(creditors) 12.000inventory stock

The income statement and balance sheet are the two statements that are prepared by the organization…

Answered: S. Green drew up the following Trial…

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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S. Green drew up the following Trial Balance as at 30 September 2020:

	direct debit (DR)	credit(CR)
capital		45.000
drawings	14.500
cash at bank	29.000
cash in hand	3.500
accounts receivable(debtors)	52.000
accounts payable(creditors)		12.000
inventory stock 30/09/2018	36.000
van	21.000
fixtures and fittings	18.000
sales		700.000
purchases	450.000
return inwards(sales return)	2.000
carriage inwards	810
return outwards (purchase returns)		600
carriage outwards	2.400
motor expenses	1.500
rent	54.000
telephone charges	540
wages and salaries	71.000
insurance	750
office expenses	400
sundry expenses	200
	757.600	757.600

Inventory as at 30 September 2019 was £40,000.
Required FOR PART A & B need help ,pls!

a. Draft an Income Statement for S. Keyes for the year ending 30th September 2020

b.. Construct a Statement of Financial Position (Balance Sheet) for S. Keyes as at 30 September2020

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