The following information is available for Jan Bartok’s business for the year ended 31 December:  $ Bank overdraft 1,200 Trade receivables 5,000 Opening inventory 1,500 Motor vehicles 2,800 Sales revenue 25,000 Drawings 2,000 Opening capital 5,000 Purchases 20,000 Trade payables 2,000 Closing inventory 3,000 Cash in hand 100 Administration expenses 1,000 Wages 800 Required: Prepare a statement of profit or loss for the year ended 31 December.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information is available for Jan Bartok’s business for the year ended 31 December:

 $

Bank overdraft 1,200

Trade receivables 5,000

Opening inventory 1,500

Motor vehicles 2,800

Sales revenue 25,000

Drawings 2,000

Opening capital 5,000

Purchases 20,000

Trade payables 2,000

Closing inventory 3,000

Cash in hand 100

Administration expenses 1,000

Wages 800

Required:

Prepare a statement of profit or loss for the year ended 31 December.

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