Jethro sells an extensive range of children's toys. He likes to be well informed at all times
Question:
Jethro sells an extensive range of children's toys. He likes to be well informed at all times about the performance of his business. Part of the routine work of his administrative assistant is to draw up a monthly trading account so that Jethro can check on gross profit levels. Information about sales and purchases relating to a three-month period, October-December 20X2, is as follows:
Sales Purchases October November December £ £ £
39 370 48 998 56 306 37 085 40 830 6 250 Stocks at the beginning of October are valued at £30863. Stocks at the end of each of the three months are as follows; October £43 258; November 53 190; and December 23 980.
Draw up a trading account for Jethro's business for each of October, November and December 20X2.
Step by Step Answer:
Business Accounting And Finance For Non Specialists
ISBN: 9781861528728
1st Edition
Authors: Catherine Gowthorpe