From the data below please complete a P&L Account
Opening Stock - £800,000
Depreciation - £80,000
Advertising expenses - £60,000
Rent - £15,000
Salaries - £56,000
Commission - £5,000
Other expenses - £7,000
Closing Stock - £200,000
Sales - £1,000,000
From the data below please complete a Balance Sheet with the appropriate sections including Fixed Assets, Current Assets, Other Assets, Long Term Liabilities, short term liabilities and Equity.
Land - £ 24,300
Equipment - £45,000
Intangible asset - £3,700
Accounts Payable - £30,000
Notes Payable - £10,000
Building and Improvements - £250,000
Account Expenses - £7,000
Additional Paid in capital - £20,000
Common Stock - £10,000
Long term Liabilities - £200,000
Inventory - £15,000
Investments - £14,000
Retained Earnings - £195,000
Cash and cash - £100,000
Accounts receivable - £20,000