The following are summaries of the cash book and bank accounts of J Duncan who does not keep his books using the double entry system You are required to (a) Calculate the value of J Duncan 's capital on 1 January 2018 (b) Prepare the Income Statement for the year ending 31 December 2018 Bank Summar...

a Bank Cash Inventory Machinery Prepayments Trade receivables Trade payables L ...

The following are summaries of the cash book and bank accounts of J. Duncan who does not

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The following are summaries of the cash book and bank accounts of J. Duncan who does not keep his books using the double entry system.

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You are required to:

(a) Calculate the value of J. Duncan's capital on 1 January 2018.

(b) Prepare the Income Statement for the year ending 31 December 2018.

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Frank Woods Business Accounting An Introduction To Financial Accounting

ISBN: 9781292365435

15th Edition

Authors: Alan Sangster, Lewis Gordon, Frank Wood

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Question Posted: Mar 02, 2024 02:01 AM

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The following are summaries of the cash book and bank accounts of J. Duncan who does not

Question:

Bank Summary Balance on 1 January 2018 Receipts Trade receivables Cash banked Payments Trade payables Rent Machinery Wages Insurance Trade receivable (dishonoured cheque) Loan interest Balance on 31 December 2018 E 26,000 4,100 18,500 1,400 7,500 6,100 1,450 250 300 8,000 30,100 38,100 35,500 2,600

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Frank Woods Business Accounting An Introduction To Financial Accounting

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