Percy, a sole trader operating a small landscaping business, asks you to prepare his balance sheet (showing

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Percy, a sole trader operating a small landscaping business, asks you to prepare his (showing his equity) for the year ended 30 June 2013from the following information: contributed capital $30 000; profit $5600 (for the year ended30 June 2013); drawings $4 000; cash $40000; fixtures and fittings $12 000; $10 000; accounts payable$15 000; bank loan $15 400.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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Accounting Business Reporting For Decision Making

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4th Edition

Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver

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Question Posted: Mar 21, 2016 02:13 AM

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Percy, a sole trader operating a small landscaping business, asks you to prepare his balance sheet (showing

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PERCY SOLE TRADER Balance Sheet as at 30 June 2013 Current assets Cash 40 000 Accou...View the full answer

Accounting Business Reporting For Decision Making

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