Produce the Following Financial Statements: A Trading Profit and Loss Account and a Balance Sheet

 A Trading Profit and Loss account

To clear any confusion the word "trading" which is part of the profit and loss account. It is at the beginning of the profit and loss account when calculating the gross profit. Usually we tend not to say the word "trading" but it will be understood by anyone familiar with accounting.

Click on these links to learn more about a Trading Profit and Loss account:
http://www.skoool.ie/skoool/examcentre_jc.asp?id=1749

http://tutor2u.net/business/gcse/finance_profit_and_loss_account.htm

Click on this link to learn how to prepare trading profit and loss accounts:
http://irish21stcenturystudents.blogspot.ie/2012/08/produce-profit-and-loss-account-for.html

Balance Sheet

A balance sheet is also known as a statement of financial position.

Click on this link to see how to produce a balance sheet:
http://irish21stcenturystudents.blogspot.ie/2012/08/produce-balance-sheet-for-following.html


Here are ten things you should know about a balance sheet:
http://www.investinganswers.com/education/financial-statement-analysis/ten-things-you-need-know-about-every-balance-sheet-337


Click on this link to learn more about a balance sheet:
http://www.accountingcoach.com/online-accounting-course/05Xpg01.html