Solution-Prepare an Income Statement for B Moore

Prepare an Income Statement for B Moore

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Reference no: EM133062357

Question - An extracted trial balance for sole trader B Moore as at 30 September 2021 is as follows:

B Moore Trial Balance as at 30 September 2021	DR £	CR £
Cash at bank	45,000
Cash in hand	6,800
Accounts receivable (Debtors)	8,000
Accounts payable (Creditors)		14,500
Inventory (Stock): 30 September 2020	18,000
Car	25,000
Drawings	7,500
Fixtures and Fittings	18,500
Sales		95,000
Purchases	110,000
Return inwards (Sales Returns)	3,500
Carriage inwards	890
Returns outwards (Purchase Returns)		720
Carriage outwards	500
Motor expenses	1,400
Rent	7,000
Telephone charges	830
Wages and salaries	14,000
Insurance	1030
Office expenses	800
Sundry expenses	250
Capital	158,780
	269,000	269,000

Inventory as at 30 September 2021 as £13,000.

Required - Prepare an Income Statement for B Moore for the year ending 30th September 2021?

Reference no: EM133062357

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Prepare an Income Statement for B Moore

Reference no: EM133062357

Reference no: EM133062357

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