Financial statements of a sole trader: N(A)-Level Principles of Accounts (SEAB 7086), covering capital and revenue expenditure, the income statement, the statement of financial position, and preparing both statements from a trial balance with year-end adjustments

An N(A)-Level Principles of Accounts (SEAB 7086) overview of the financial statements of a sole trader: telling capital expenditure from revenue expenditure, preparing the income statement to find gross profit and profit for the year, preparing the statement of financial position with its capital section, and building both from a trial balance with year-end adjustments.