From the following list of balances you are required to prepare a departmental income statement for the

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From the following list of balances you are required to prepare a departmental income statement for the year ending 31 March 2011, in respect of the business carried on under the name of Jack’s Superstores:

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Except as follows, expenses are to be apportioned equally between the departments. Delivery expenses – proportionate to sales. Commission – 21 /2 per cent of sales. Salaries and wages; Insurance – in the proportion of 3:2:1. Discounts received – 1 per cent of purchases.

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Frank Woods Business Accounting

ISBN: 9780273759287

12th Edition

Authors: Frank Wood. Sangster, Alan

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