A business both buys loose tools and also makes some itself. The following data is available concerning
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A business both buys loose tools and also makes some itself. The following data is available concerning the years ended 31 December 20X7, 20X8 and 20X9.
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20X7 Jan 1 Dec 31 20X8 Dec 31 20X9 Stock of loose tools During the year: Bought loose tools from suppliers Made own loose tools: the cost of wages of employees being £490 and the materials cost £340 Loose tools valued at During the year: Loose tools bought from suppliers Made own loose tools: the cost of wages of employees being £610 and the materials cost £420 Loose tools valued at During the year: Loose tools bought from suppliers Made own loose tools: the cost of wages of employees being £230 and the materials cost £370. Received refund from a supplier for faulty tools returned to him Dec 31 Loose tools valued at £ 2,400 3,800 5,100 1,820 5,940 2,760 142 5,990
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Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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