The following information is provided for two different European SME furniture manufacturers for the year ended December 31st 2022: All figures in Euros (€) ITEM JUPITER HOME FURNITURE LTD CAPRICORN FURNISHINGS LTD Sales (all credit) 230,000 896,000 Opening Stock (1st January 2022) 12,400 32,000 Purchases (all credit) 58,600 515,000 Closing Stock (31st December 2022) 11,600 30,000 Overhead expenses 84,600 126,000 Fixed Assets 200,000 450,000 Trade Debtors 14,000 80,000 Trade Creditors 16,000 47,000 Bank Balance 2,400 4,000 Capital 1st January 2022 (Opening Capital) 42,000 332,000 Drawings 16,000 68,000 *All sales and purchases were on credit. Q1: Prepare a summarised trading/profit and loss account for the year ended 31st December 2022 for both companies. Please dont provide image based solution thanks
The following information is provided for two different European SME furniture manufacturers for the year ended December 31st 2022:
All figures in Euros (€)
|
ITEM |
JUPITER HOME FURNITURE LTD |
CAPRICORN FURNISHINGS LTD
|
|
Sales (all credit) |
230,000 |
896,000
|
|
Opening Stock (1st January 2022) |
12,400 |
32,000
|
|
Purchases (all credit) |
58,600 |
515,000
|
|
Closing Stock (31st December 2022) |
11,600 |
30,000
|
|
|
84,600 |
126,000
|
|
Fixed Assets |
200,000 |
450,000
|
|
Trade Debtors |
14,000 |
80,000
|
|
Trade Creditors |
16,000 |
47,000
|
|
Bank Balance |
2,400 |
4,000
|
|
Capital 1st January 2022 (Opening Capital) |
42,000 |
332,000
|
|
Drawings |
16,000 |
68,000
|
*All sales and purchases were on credit.
Q1: Prepare a summarised trading/
Please dont provide image based solution thanks
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