arks)
each question)
The following is the trial balance J. Leung as at 30 September 2020:
Debit
Credit
Capital
Drawings
Loan from A. Mak
Cash
Bank overdraft
Sales
Purchases
S
S
32,890
5,200
10,000
510
1,720
45,600
29,300
Returns Inwards
3,800
Returns outwards
2,700
Carriage inwards
960
Carriage outwards
820
Trade debtors
7,390
Trade creditors
4,620
Land and buildings
26,000
Plant and machinery
13,500
Listed investments
4,800
Interest paid
1,200
450
Interest received
630
Rent received
3,720
Inventory
810
Repairs to buildings
360
Plant hire charges
240
Bank charges
98,610
98,610
Further information:
1. The inventory at 30 September 2020 was valued at $4,580.
2. The loan from A.Mak is repayable on 1 January 2027.
You are required to prepare the income statement for the period ended 30 September 2020 and the
statement of financial position as at that date.