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Prepare statement of comprehensive income for the year ended

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Reference no: EM132838929

Question - The following information is available for Starter's business for the year ended 31 December. He started his business on 1 January.

 

Rs. (000)

Trade payables

6,400

Trade receivables

5,060

Purchases

16,100

Revenue

28,400

Motor van

1,700

Drawings

5,100

Insurance

174

General expenses

1,596

Rent and rates

2,130

Salaries

4,162

Inventory at 31 December

2,050

Sales returns

200

Cash at bank

2,628

Cash in hand

50

Capital introduced

4,100

Required - Prepare a statement of comprehensive income for the year ended 31 December and a statement of financial position at that date.

Reference no: EM132838929

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