Dick Barton, a sole trader, banks all his takings intact and makes his payments by cheque. A

Question:

Dick Barton, a sole trader, banks all his takings intact and makes his payments by cheque. A summary of his bank statements for the year ended 30 April 2011 is shown.

A list of his shop’s assets and liabilities is shown

Required: Prepare:

(a) A Statement of income for the year ended 30 April 2011, and

(b) A Statement of financial position as at that date.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 29, 2023 09:58 AM

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Dick Barton, a sole trader, banks all his takings intact and makes his payments by cheque. A

Question:

Bank summary: Balance at 1.5.2010 Trade receivables Cash sales 4 1,200 63,120 20,000 Trade payables Expenses Rent Drawings Fixtures لبا 49,600 12,620 4,000 15,000 750

Step by Step Answer:

a b Statement of affairs as at 3042010 Fixtures Inventory Receivables Rent prepaid Bank ...View the full answer

Financial Accounting An Introduction

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