Q5 2002

Trading account dr
Opening supplies 3000
Rent 6000
Wages 1150

Credit side
Sales 14,400
Closing supplies 1300

Gp= 5,550

Profit and loss debit side
Depreciation 1200
Advertising 100

Credit
Gp 5550

Np= 4250


Bs

Assets
Equipment 8400
Prepaid 300
Supplies 1300
Service fee 400
Receivable 1500
Cash 200

Total assets 12,100

Capital 10000
Drawings (3600)
Net profit 4250

Total capital 10650

Payable 800
Rent 500
Wages 150

Total capital & liability = 12,100