An extract from the year-end Trial Balance of a trader is shown. During the year goods costing
Question:
An extract from the year-end Trial Balance of a trader is shown. During the year goods costing £250 have been donated to a charity and the cost of inventory remaining unsold at the year-end was £8,000.
Required:
Identify the gross profit and net profit of the business for the year ended 2010.
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Statement of income Sales Less Returns inwards Purchases ...View the full answer
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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