[S] On reviewing the financial statements, the company accountant discovers that a payment of 21,000 made to
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[S] On reviewing the financial statements, the company accountant discovers that a payment of £21,000 made to a supplier has been omitted from the cash book and other internal accounting records. What will be the effect on the profit and loss account and the statement of financial position (balance sheet) when this omission is rectified?
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Related Book For 
Financial And Management Accounting An Introduction
ISBN: 9780273718413
5th Edition
Authors: Pauline Weetman
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