J. Waite and P. Watchers trial balance as at 30 November 2012 is set out below. 1.
Question:
J. Waite and P. Watcher’s trial balance as at 30 November 2012 is set out below.
1. Closing inventory is £15,000.
2. Salaries are £18,000 for Waite and £16,000 for Watcher.
3. There is £300 owing for rent.
4. Depreciation for the year is £2,000 on land and buildings and £3,000 on motor vehicles. The business was started on 1 December 2011.
5. The split of profits is 3 Watcher:2 Waite. Required: Prepare the income statement for year ended 30 November 2012 and the statement of financial position as at 30 November 2012.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: