Douglas Ltd supplies the following information after the first year of trading: Additional information The directors wish
Question:
Douglas Ltd supplies the following information after the first year of trading:
Additional information
The directors wish to transfer £50,000 to general reserve and recommend a final dividend of £60,000. They wish to provide for corporation tax due £82,000.
Required
a) Prepare an extract from the income statement for the year ended 29 February 20*8.
b) Prepare a balance sheet at 29 February 20*8.
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a Extract from the income statement for the year ended 29 February 208 ...View the full answer
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