Income Statement And Balance Sheet A Level Entrepreneurship

Trial Balance 1: ABC Traders As at 31st December 2025 Account Title Debit (UGX) Credit (UGX) Capital 25,000,000 Drawings 2,000,000 Buildings 10,000,000 Equipment 4,000,000 Purchases 12,000,000 Sales 20,000,000 Returns Inwards 500,000 Returns Outwards 700,000 Carriage Inwards 800,000 Salaries 1,500,000 Rent 1,000,000 Debtors 3,500,000 Creditors 2,600,000 Cash 1,200,000 Bank 12,300,000 Loan 3,400,000 Opening Stock 3,000,000 Totals 51,800,000 51,800,000 Additional Information: Closing Stock = 4,200,000 Task for the Learner Prepare: 1. Income Statement (Trading, Profit & Loss Account) 2. Balance Sheet Trial Balance 2: KLM Enterprises as at 31.12.2022 Account Title Debit (UGX) Credit (UGX) Capital 30,000,000 Drawings 3,000,000 Land 12,000,000 Furniture 3,000,000 Purchases 15,000,000 Account Title Debit (UGX) Credit (UGX) Sales 25,000,000 Returns Inwards 700,000 Returns Outwards 1,000,000 Carriage Inwards 1,200,000 Salaries 2,000,000 Insurance 800,000 Debtors 4,000,000 Creditors 3,200,000 Cash 1,500,000 Bank 15,000,000 Loan 5,000,000 Opening Stock 3,500,000 Totals 61,700,000 61,700,000 Additional Information: Closing Stock = 5,000,000 Task for the Learner Prepare: 1. Income Statement (Trading, Profit & Loss Account) 2. Balance Sheet Trial Balance 3: PQR Stores as at 31.12.2023 Account Title Debit (UGX) Credit (UGX) Capital 20,000,000 Drawings 1,500,000 Buildings 8,000,000 Equipment 3,000,000 Purchases 10,000,000 Sales 18,000,000 Returns Inwards 400,000 Returns Outwards 600,000 Carriage Inwards 600,000 Salaries 1,200,000 Rent 900,000 Debtors 2,800,000 Creditors 2,000,000 Cash 1,000,000 Account Title Debit (UGX) Credit (UGX) Bank 10,700,000 Loan 3,500,000 Opening Stock 2,500,000 Totals 46,600,000 46,600,000 Additional Information: Closing Stock = 3,800,000 Task for the Learner Prepare: 1. Income Statement (Trading, Profit & Loss Account) 2. Balance Sheet Trial Balance 4: MNO Wholesalers as at 31.12.2024 Account Title Debit (UGX) Credit (UGX) Capital 35,000,000 Drawings 4,000,000 Land & Buildings 15,000,000 Furniture 5,000,000 Purchases 20,000,000 Sales 32,000,000 Returns Inwards 1,000,000 Returns Outwards 1,500,000 Carriage Inwards 1,800,000 Salaries 2,500,000 Insurance 1,000,000 Debtors 6,000,000 Creditors 5,000,000 Cash 2,000,000 Bank 18,700,000 Loan 6,000,000 Opening Stock 5,000,000 Totals …