This information has been taken from the companys books as at 31 December 20X1, but the information
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This information has been taken from the company’s books as at 31 December 20X1, but the information below has not been allowed for.
(a) Inventory at 31 December 20X1 is €20,000.
(b) Plant and machinery is to be depreciated by 10%.
(c) Land and buildings is to be revalued to €150,000.
(d) General expenses includes an insurance charge of €1,000 covering the period 1 July 20X1 to 30 June 20X2.
(e) A receivable for €1,000 has gone bankrupt.
Using the quadrant format (see Activity 2.D), incorporate the additional information and prepare the closing balance sheet and income statement.
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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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