1 The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader. The following additional information as at 31 May 2009 is available: (a) Rent is accrued by £210. (b)...

1

The following trial balance has been extracted from the ledger of Mr Yousef, a sole

trader.

The following additional information as at 31 May 2009 is available:

(a) Rent is accrued by £210.

(b) Rates have been prepaid by £880.

(c) £2,211 of carriage represents carriage inwards on purchases.

(d) Equipment is to be depreciated at 15% per annum using the straight line method.

(e) The provision for doubtful debts to be increased by £40.

(f
) Stock at the close of business has been valued at £13,551.

Required:

Prepare a trading and profit and loss account for the year ending 31 May 2009 and a balance sheet

as at that date.

(Association of Accounting Technicians)