The following information has been extracted from the books of account of Tanya Marsh at 30 April 2016 2275 10 000 6 550 1 250 5 600 15 000 11 500 12 500 23 500 44 500 35 405 2 800 1 200 120 000 45 2...
The following information has been extracted from the books of account of Tanya Marsh at 30 April 2016 2275 10 000 6 550 1 250 5 600 15 000 11 500 12 500 23 500 44 500 35 405 2 800 1 200 120 000 45 200 25 652 Bank overdraft Bank loan repayable February 2017 Carriage outwards Discounts allowed Discounts received Drawings Inventories at 1 May 2015 Motor vehicle expenses Premises Purchases Rent (expense) and rates Returns inwards Returns outwards Revenue Trade payables Trade receivables Additional information (1) Inventories at 30 April 2016 were valued at £20 540 (2) The carriage outwards account included £1400 which related to carriage inwards (3) An annual rates invoice of £2400 for the year ending 31 July 2016 remained unpaid (4) Rent (expense) totalling £1530 had been paid in advance for the month of May 2016 (5) Motor vehicle expenses included £300 which related to private insurance of Tanya's son's car (6) The motor vehicle expense account had been understated by £35 Prepare an extract from an income statement for Tanya Marsh to show the gross profit for the year ended 30 April 2016
The following information has been extracted from the books of account of Tanya Marsh at 30 April 2016 2275 10 000 6 550 1 250 5 600 15 000 11 500 12 500 23 500 44 500 35 405 2 800 1 200 120 000 45 200 25 652 Bank overdraft Bank loan repayable February 2017 Carriage outwards Discounts allowed Discounts received Drawings Inventories at 1 May 2015 Motor vehicle expenses Premises Purchases Rent (expense) and rates Returns inwards Returns outwards Revenue Trade payables Trade receivables Additional information (1) Inventories at 30 April 2016 were valued at £20 540 (2) The carriage outwards account included £1400 which related to carriage inwards (3) An annual rates invoice of £2400 for the year ending 31 July 2016 remained unpaid (4) Rent (expense) totalling £1530 had been paid in advance for the month of May 2016 (5) Motor vehicle expenses included £300 which related to private insurance of Tanya's son's car (6) The motor vehicle expense account had been understated by £35 Prepare an extract from an income statement for Tanya Marsh to show the gross profit for the year ended 30 April 2016