A. Daley commenced trading on 1 January 20X0 as a second-hand car dealer. His capital in cash was £20,000. On that date Daley acquired a 5-year lease on a lock-up garage at a cost of £5,000.
The following transactions took place during the year, all in cash:

The relevant indices during the year were:

You are required to prepare a statement of comprehensive income for the year and a statement of financial position at 31 December 20X0 using:
a. Historical cost accounting;
b. Current cost accounting;
c. Current purchasing power accounting;
d. Historical cost accounting with adjustments for current costs.
Make all computations to the nearest £.

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31 Mar 20X0 30 Jun 20X0 30 Sep 20X0 Purchased a car for resale Sold the car Bought another car for resale £ 10,000 13,000 14,000