The following year end adjustments are required: Closing inventory of 45,700 to be recorded. Depreciation at...
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The following year end adjustments are required: Closing inventory of £45,700 to be recorded. Depreciation at 20% straight line to be charged on assets with a cost of £470,800. An irrecoverable debt of £230 to be written off. Deferred income of £6,700 to be recorded. What is the impact on equity of these adjustments? The following year end adjustments are required: Closing inventory of £45,700 to be recorded. Depreciation at 20% straight line to be charged on assets with a cost of £470,800. An irrecoverable debt of £230 to be written off. Deferred income of £6,700 to be recorded. What is the impact on equity of these adjustments?
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The impact on equity from the yearend adjustments can be calculated by considering the effect of each adjustment on different components of equity Equ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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