exercise_9 (1)

exercise_9 (1) - MA826 Finance and Financial Reporting...

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MA826 Finance and Financial Reporting Exercise 9 1. The trial balance of Mr X at 30 June 200X is given below: £ £ Capital 30,350 Sales 108,920 Purchases 72,190 Drawings 12,350 Debtors 7,350 Creditors 6,220 Cash 1,710 Stock 9,470 Building –cost 10,000 Building – depreciation 500 Plant and machinery - cost 25,000 Plant and machinery – depreciation 12,000 Rent 1,000 Wages 14,330 Advertising 590 Delivery costs 1,000 Other costs 3,000 157,990 157,990 Notes 1. The value of stock at 30 June 200X was £9,960. 2. The depreciation charge for plant and machinery for the year to 30 June 200X was £2,800. The depreciation charge for building for the same period was £200. Prepare the trading and profit and loss account of Mr X for the year to 30 June 200X and the balance sheet at that date.
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2. A summary of the accounts of Best, a trader for the years 2006 and 2007 are given below: Trading and profit and loss account 2006 2007 £ £ £ £ Sales 240,000 300,000 Opening stock 24,000 25,000 Purchases
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This note was uploaded on 06/07/2011 for the course MA 826 taught by Professor Loba,millet during the Spring '11 term at Kent Uni..

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exercise_9 (1) - MA826 Finance and Financial Reporting...

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