Financial Statements of a Sole Proprietorship – Practice Question

Published by admin on

This question has been extracted from the G.C.E O/L Grade 11 test book – Activity 10 page no. 66.

Question

The accounting period of Bimali’s business ends on 31.12.20xx. The trial balance as at 31.12.20xx is given below.

Assume that the entire stock has been sold out.

Prepare

01. The profit or loss statement for the year ended 31st December 20xx

02. The Statement of Financial Position as at 31st December 20xx

 

Answer

 

Categories: Accounting

0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *