Solution-Prepare income statement for the period ending

Prepare income statement for the period ending September

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Reference no: EM133103371

Question - The following is the trial balance of R Graham for the period ending 30 September 2021

	Dr	Cr
	£	£
Inventory 1 October 2020	2,368
Carriage outwards	200
Carriage inwards	310
Returns inwards	205
Returns outwards		322
Purchases	11,874
Sales		18,600
Salaries and wages	3,862
Rent	304
Insurance	78
Motor expenses	664
Office expenses	216
Light and heating	166
General expenses	314
Premises	5,000
Motor vehicles	1,800
Fixtures and fittings	350
Receivables	3,896
Payables		1,731
Cash at bank	482
Drawings	1,200
Capital		12,636
	33,289	33,289

Inventory at 30 September 2021 was £2,946.

Required -

1. Prepare income statement for the period ending 30 September 2021.

2. Prepare the financial position as at 30 September 2021.

Reference no: EM133103371

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Prepare income statement for the period ending September

Reference no: EM133103371

Reference no: EM133103371

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