Illustration 2 – Single Entry & Incomplete Records
The following is a summary of the bank account of Salami a retailer for the year ended 31st December 1998.
You are required to prepare:
(a) Statement of affairs as at 1/1/98
(b) Debtors and creditors control accounts.
(c) Trading, Profit and Loss account.
(d) Balance sheet as at 31/12/98.