The following trial balance has been extracted from Jodys books of account as at 30 April 2016:

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The following trial balance has been extracted from Jody’s books of account as at 30 April 2016:

Required:

Prepare Jody’s statement of profit or loss and statement of retained earnings for the year to 30 April 2016 and a statement of financial position as at that date.

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Accounting For Non-Accounting Students

ISBN: 9781292128979

9th Edition

Authors: John R. Dyson, Ellie Franklin

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Question Posted: Oct 10, 2022 12:43 AM

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The following trial balance has been extracted from Jodys books of account as at 30 April 2016:

Question:

Capital (as at 1 May 2015) Cash Electricity Maintenance Miscellaneous expenses Purchases Rent and rates Sales Vehicle (at cost) Wages Dr £000 1 247 40 6 30 25 115 Cr £000 30 85 115

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To prepare Jodys statement of profit or loss and statement of retained earnings we need to calculate the net profit or loss for the year and any divid...View the full answer

Accounting For Non-Accounting Students

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