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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
Inventory as at 30 September 2021 as £13,000.
Required - Prepare an Income Statement for B Moore for the year ending 30th September 2021?
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