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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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