Ashley Peacock provides the following information for the year ended 30 June 20*8: Required Prepare a trading
Question:
Ashley Peacock provides the following information for the year ended 30 June 20*8:
Required
Prepare a trading and profit and loss account for the year ended 30 June 20*8 and a balance sheet at that date.
Transcribed Image Text:
Capital at 1 July 20*7 Premises at cost Machinery at cost Motor van at cost Stock at 1 July 20*7 Debtors Creditors Bank balance Purchases Sales Wages and general expenses Repairs and renewals Rent and rates Insurance and advertising Motor expenses Drawings Long-term loan Stock at 30 June 20*8 £ 108,044 150,000 45,000 17,500 7,854 13,563 8,734 1,245 70,031 175,672 38,962 7,459 5,350 5,312 13,674 16,500 100,000 9,004
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Trading and Profit Loss Account for the Year Ended 30 June 208 Particulars Amount Trading Accoun...View the full answer
Answered By
Sayee Sreenivas G B
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A factory manufactures chairs and tables, each requiring the use of three operations: Cutting, Assembly, and Finishing. The first operation can be used at most 39 hours; the second at most 42 hours;...
-
Margaret is reading a book. The number of pages she has left to read it 356-42d, where d represents the number of days she has been reading. What does each part of the expression represent?
-
Ace Couriers Pty. Ltd. is an Australian resident private company for tax purposes and carries on the business of parcel delivery throughout Australia. It is registered for GST. Amanda, the accountant...
-
Prove that e is an irrational number using the following argument by contradiction. Suppose that e = M/N, where M, N are nonzero integers. (a) Show that M!e- is a whole number. (b) Use the power...
-
Briefly explain the need for an IFRS on first-time adoption of IFRS.
-
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at...
-
A friend has asked you for help. She is an entrepreneur and would like to start a company to pursue her dream of designing and selling a line of childrens toys. She has heard the term stakeholder...
-
Haley Company, organized in 2014, has these transactions related to intangible assets in that year: Jan. 2Purchased a patent (5-year life) $280,000. Apr. 1 Goodwill acquired as a result of purchased...
-
What industry is Airbnb in? Is Airbnb in a risky industry? Why/when Airbnb begin its operations? Has Airbnb announced an IPO, or possibly a SPAC deal, since it received its initial funding? If now...
-
The following information relates to the year ended 31 March 20*8 for Catherine: stock at 1 April 20*7 1,549; stock at 31 March 20*8 1,471; purchases 54,772; sales 127,773; returns inward 321;...
-
Attil provides the following information for the year ended 31 December 20*8: stock at 1 January 20*8 207; stock at 31 December 20*8 870; purchases 43,672; sales 91,211; returns inward 75; returns...
-
To qualify for the Interlochen 470 auto race, each driver must complete two laps of the track at an average speed of 100 mi/h. Benjamin averages only 75 mi/h on his first lap. How fast must he go on...
-
The net operating income of an investment property is $330,000. A comparable company recently sold for $1 million. It has a net operating income of $200,000. What is the capitalization rate for the...
-
What is the accumulated value of $700 invested for 15 years at 2.5% p.a. compounded (a) annually? (b) semi-annually? (c) quarterly? (d) monthly? (a) The accumulated value is $ (Round the final answer...
-
List at least two accounting software used in the industry. Describe five (5) characteristics and features of an accounting software of your choice that are utilised in the creation and oversight of...
-
The Brigham & Houston portion (Part 2) of the custom text says, "Companies raise capital in two main forms: debt and equity" . What equation from your accounting course captures the essence of this...
-
A discussion of how the 'hybrid' National Oil Companies combine elements of both the National Oil Companies and International Oil Companies strategies do fast and need correct answer with good...
-
An ionic compound made from the metal M and the diatomic gas X2 has the formula MaXb, in which a = 1 or 2 and b = 1 or 2. Use the data provided to determine the most likely values for a and b, along...
-
You continue to work in the corporate office for a nationwide convenience store franchise that operates nearly 10,000 stores. The per- store daily customer count (i.e., the mean number of customers...
-
Define the term 'loss'.
-
Define the term 'profit'.
-
Explain the circumstances that could result in a long-term bank loan being shown in a statement of financial position as a current liability.
-
8. The electronic health record shows an order for 120 mL of 25 % formula to be administered in the nasogastric feeding tube every 2 hours between 0700 and 1900 each day. The 30 mL can of...
-
Q6. Draw parallel realization of IIR by using the transfer function given by H(z) 3 (2 z+5Z+4)/ (2z+1) (z+2)
-
1. Application of Legendre transform on van der Waal gas: For monatomic van der Waal gas, the entropy is 3/21 N2a\ S (E,V,N) = Ng In V-Nb 4m E + N 3h2 N 5 V 2 Where KB, m, , h, a, b are constants....
Study smarter with the SolutionInn App