This is a few tasks on the income statement and balance sheet

Using the below list of ledger balances you are to
complete the Income Statement and the Statement of
Financial Position (templates provided)

Ledger Balances:

Account Name
Sales Revenue 125,400.00
Opening Inventory (1 April) 10,750.00
Purchases 87,964.00
Carriage Inwards 3,236.00
Electricity 2,000.00
Rent & Rates 1,750.00
Stationary 95.25
Postage 15.25
Wages & Salaries 15,000.00
Distribution (carriage out) 361.78
Inventory Write-Off 487.36
Bank Charges 50.25
Irrecoverable Debt 698.32
Property (book value) 118,700
Closing Inventory 11,963.00
Trade Recievables 8,100.00
Bank 10,365.17
Opening Capital 97,000.00
Trade Payables 22,850
VAT Control 14,323.38

, Income Statement
For the period ended 30th April 20xx

Revenue

Cost of Sales:




Gross Profit

Expenses:




Profit/(Loss)