Laboratory Activity #4:

Trial Balance

INSTRUCTIONS:

A. Identify the expenses and assets (debit balances) and income, liabilities and
equity (credit balances), and confirm that the trial balance is in balance.
B. Prepare a profit and loss account for Bronze Meadow Ltd for the year ended 31
March 2001.
C. Prepare a balance sheet for Bronze Meadow Ltd as at 31 March 2001.

 Use MS Excel or any electronic spreadsheet application to tabulate your answers.

 Put your answer to each of the letters above in separate sheets.
 Use available formulas and functions whenever needed (this will serve as your
instructor’s reference as to how you did the computation).
 Save your spreadsheet as LAB4_yourSurname.

The trial balance of Bronze Meadow Ltd at 31 March 2001 is shown below.

£
Administrative expenses (including depreciation) 36,000
Rent paid 12,000
Motor vehicle expenses 21,000
Salaries 106,800
Insurance 12,000
Cost of stock sold 489,000
Sales 804,000
Motor vehicles net book value 84,000
Trade creditors 102,000
Trade debtors 122,700
Buildings at valuation 600,000
Cash at bank 42,000
Share capital 720,000
Closing stock 31 March 2001 90,000
Tax payable 60,000
Tax charge (profit and loss account) 60,000
Selling and distribution costs 40,500

Save your file as LAB4_SURNAME.

NOTE:
Send your file to jameshowellabarsoza@gmail.com