The following is the Trial Balance of LOP Company as of 31 December 2017: Particulars...
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The following is the Trial Balance of LOP Company as of 31 December 2017: Particulars Dr Amount Cr Amount apital pening stock $114,000 $600 Direct expenses $58,000 Salaries $72,000 $98,000 $10,000 ases Rent and rates Sales Interest received $184 $12.4 $6 iscount received Drawings $54,400 $22,000 $52,000 $70,000 $80,000 $112,000 sement ash in hand ash at bank Sundry debtors Buildings creditors $36 16,000 50,000 Prepaid Insurance20,000 10,000 Furniture Vehicles id salaries $838,400 $838,4 - The stock on 31 December 2017 is $501,600. You are required to prepare the Trading and Profit and Loss Account for the year ended 31 December 2017 and the Balance Sheet as on that date for LOP Company
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