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This is a few tasks on the income statement and balance sheet £10.49   Add to cart
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  3. University Of Glasgow
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  5. Introduction to accounting

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This is a few tasks on the income statement and balance sheet
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This is a few tasks on the income statement and balance sheet breaking it down to make it easier for a beginner. I stress that this is an introduction to accounting and is nothing to difficult, studying all these materials could save you money on an accountant.

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  • September 29, 2024
  • 6
  • 2024/2025
  • Other
  • Unknown

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bethanykernaghan

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Using the below list of ledger balances you are to
complete the Income Statement and the Statement of
Financial Position (templates provided)

Ledger Balances:

Account Name
Sales Revenue 125,400.00
Opening Inventory (1 April) 10,750.00
Purchases 87,964.00
Carriage Inwards 3,236.00
Electricity 2,000.00
Rent & Rates 1,750.00
Stationary 95.25
Postage 15.25
Wages & Salaries 15,000.00
Distribution (carriage out) 361.78
Inventory Write-Off 487.36
Bank Charges 50.25
Irrecoverable Debt 698.32
Property (book value) 118,700
Closing Inventory 11,963.00
Trade Recievables 8,100.00
Bank 10,365.17
Opening Capital 97,000.00
Trade Payables 22,850
VAT Control 14,323.38

, Income Statement
For the period ended 30th April 20xx

Revenue

Cost of Sales:




Gross Profit

Expenses:




Profit/(Loss)

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