Jimmy is the director of Hazina Motors Co Ltd. he was presented with the financial statement for
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Question:
Jimmy is the director of Hazina Motors Co Ltd. he was presented with the financial statement for the year ending 30th September 2020. The bank balance was 400,000 overdraft and cash balance of 40,000. The net profit after tax for the same period amounted to 2,000,000. He wonders why the cash and bank balances do not match the net profit.
Required
Prepare a detailed report to the director explaining the reason for the difference as he noted
Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
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