The trial balance of Mumbai Co. at 31 December was as follows: The following information is applicable.
Question:
The trial balance of Mumbai Co. at 31 December was as follows:
The following information is applicable.
(a) Inventory on 31 December is €850,000.
(b) The cumulative allowance for doubtful debts is to be increased to €15,000.
(c) There is rent accrued of €300,000.
(d) Insurance of €125,100 had been paid in advance.
(e) Depreciation on office furniture is to be provided at 5 per cent on cost.
You are required to:
■ prepare an income statement for the year ended 31 December and a balance sheet as at that date.
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Related Book For
Financial Accounting An International Introduction
ISBN: 9781292102993
6th Edition
Authors: David Alexander, Christopher Nobe
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