You are to draw up a trading and profit and loss account for the year ending 31
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You are to draw up a trading and profit and loss account for the year ending 31 December 20X2, and a balance sheet as at that date from the following trial balance and details of Partido Ltd:
Notes at 31 December 20X2:
(i) Stock £317,426.
(ii) Business rates owing £1,700; Office expenses owing £245.
(iii) Dividend of 15 per cent proposed.
(iv) Transfers to reserves: General £70,000; Foreign exchange £30,000.
(v) Depreciation on cost: Buildings 5 per cent; Equipment 15 per cent.
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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