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)
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)
