Question: Question 1 - Smith and Jones Ltd Mr Smith and Mr Jones run a wholesale business selling coffee and biscuits to coffee shops. The business

Question 1 - Smith and Jones Ltd Mr Smith and Mr Jones run a wholesale business selling coffee and biscuits to coffee shops. The business is incorporated under the name of Smith and Jones Ltd, and they are the only shareholders. As the business is small, they do not employ a full-time accountant, but pay a local firm to prepare their accounts after the end of the accounting period from information they supply. You are on a summer work placement with this firm and have been asked

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