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Cr 95660 620 1080 10000 Practice Question 4 The following Trial balance has been...

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Cr 95660 620 1080 10000 Practice Question 4 The following Trial balance has been extracted by the book keeper of Kelsey Little, a dress maker as at the 30th June 2018. Dr Purchases 31480 Sales Opening inventory 7580 Returns 240 Discounts 380 Drawings 34720 Premises at cost 100000 Accumulated depreciation for premises Fixtures and fittings at cost 24000 Accumulated depreciation for F&F Wages and salaries 18620 Advertising 2260 Rates 8240 Sundry expenses 7390 Bank 4020 Cash 120 Receivables 5000 utilities 100 Payables Capital Bank Loan 244150 3000 7500 81290 45000 244150 Notes at 30th June 2015 1. Inventory has been valued at 6060 2. Depreciate premised on a straight basis over 50 years. 3. Depreciate fixtures and fittings at 12.5% using reducing balance basis. Required To prepare the statement of profit or loss position for the year ending the 30th June 2018 and the statement of financial as at the same date

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