1. The following is the trial balance of T Owen as at 31 March 2019. Draw up a set of financial statements for the year ended 31 March 2019. (25 marks) Dr Cr $ $ Stock 1 April 2018 52,800 Sales 276,400 Purchases 141,300 Carriage inwards 1,350 Carriage outwards 5,840 Returns outwards 2,408 Wages and salaries 63,400 Business rates 3,800 Communication expenses 714 Commissions paid 1,930 Insurance 1,830 Sundry expenses 208 Buildings 125,000 Debtors 45,900 Creditors 24,870 Fixtures 1,106 Cash at bank 31,420 Cash in hand 276 Drawings 37,320 Capital _______ 210,516 514,194 514,194 Stock at 31 March 2019 was $58,440.
2. Trial Balance of Mr. Renrick Reid Dr Cr $ $ Stock 1 may 2007 2,368 Carriage outwards 200 Carriage inwards 310 Return inwards 205 Return outwards 322 Purchases 11,874 Sales 18,600 Wages 3,862 Rent and rates 304 Insurance 78 Motor expenses 664 Office expenses 216 Lighting expenses 166 General expenses 314 Computer equipment 5,000 Motor vehicle 1,800 Fixtures and fittings 350 Debtors 3,896 Creditors 1,731 Cash at bank 482 Drawings 1,200 Capital 12, 636 33,289 33,289 Stock at 30th April 2008 was $2,946 Required: From the above trial balance of Mr. Renrick Reid A. Draw up a trading, and profit and loss account for the year ended 30th April 2008, and (15 marks) B. A balance sheet as at same date.