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  1. business
  2. accounting
  3. 2. the following trial balance was extracted from

2. The following trial balance was extracted from the books of Jane Walsh (who is...

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Accounting

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2. The following trial balance was extracted from the books of Jane Walsh (who is the proprietor of a fabric shop) at the end of her financial year 30 April 20-0: Trial balance as at 30 April 20-0 Dr Cr Sales 30,000 Purchases 15,700 Shop fittings 13,000 Capital 15,000 Opening stock 4,700 Bank 610 Cash 100 Shop wages 4,420 Debtors 120 Drawings 3,500 Creditors 2,030 Light and heat 260 Rent 4,500 Insurance 120 47,030 47,030 While preparing the year-end accounts, the following should be accounted for: the stock at the end of the year was valued at $4,400 Required: i. Prepare Janes trading account for the year ended 30 April 20-0. (2 marks) ii prepare Janes profit and loss account for the year ended 30 April 20-0. (2 marks) iii. draft Janes balance sheet as at 30 April 20-0. (2 marks)

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