The following expenditure in the year to 31 December 1984i relates to motor vans owned by a

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The following expenditure in the year to 31 December 1984i relates to motor vans owned by a small haulage company:

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On 31 Decembe r 1984, the stock of tyres amounted to £40, and petrol bills unpaid amounted to £43.

(a) Ascertain the 'expense' for the year ended 31 December 1984.

(b) How might the value of the tyre stock at 31 December have been established? What are the difficulties in establishing a value for year-end stock?

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Accounting In Business

ISBN: 9780408014861

5th Edition

Authors: R. J. Bull

Question Posted: Jun 04, 2024 02:09 AM

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The following expenditure in the year to 31 December 1984i relates to motor vans owned by a

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Petrol, oil and repairs Licences-year to 31 March 1983 Tyres 800 80 90 Insurance-year to 31 March 1983 100

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Accounting In Business

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