The financial year of G Norfolk ended on 31 December 2003. From the following information, ascertain the
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The financial year of G Norfolk ended on 31 December 2003. From the following information, ascertain the amounts to be included in the statement of comprehensive income for the year ended 31 December 2003, through use of ledger accounts or otherwise.
1 Advertising: paid during 2003 £190, prepaid for 2004 £25.
2 Heating costs: owing as at 1 January 2003 £54, paid during 2003 £340, still owing at end of the year £31.
3 Rent received: received during 2003 for period covering 1 March 2003 to 29 February 2004 was £1,200 (no rent was receivable for January or February 2003).
4 Insurance: prepaid at 1 January 2003 £44; paid in 2003 £501.
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Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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