Prepare a trading, profit and Loss Account and Balance Sheet for the year November 30 2021. There
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Prepare a trading, profit and Loss Account and Balance Sheet for the year November 30 2021. There has been some adjustments on December 1, 2018 : Stock was valued at £44,698, Rates £5,598 were prepaid, An accural of £3,296 is to be made in respect of heat and light unpaid, depreciation for the year is to be provided as follows: Fixtures and Fitting- 15% per year using the straight line method, Motor Vehicles- 25% per year also using the straight line method. Bad debts of £1,590 need to be written off . The provision for bad debts for bad debts of 5% of remaining debtors is to be created. Include the calculations of the adjustments.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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