You are to draw up an income statement for the year ending 31 December 2011, and a
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You are to draw up an income statement for the year ending 31 December 2011, and a statement of financial position as at that date from the following trial balance and details of Partido Ltd:
Notes at 31 December 2011: (i) Inventory £317,426. (ii) Business rates owing £1,700; Office expenses owing £245. (iii) Dividend of 15 per cent proposed. (iv) Transfers to reserves: General £70,000; Foreign exchange £30,000. (v) Depreciation on cost: Buildings 5 per cent; Equipment 15 per cent.
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Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
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