Parag runs a shop selling sports equipment and a range of sports clothing. Trading times have been

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Parag runs a shop selling sports equipment and a range of sports clothing.

Trading times have been difficult and he is not sure whether his business is still profitable. He has provided the following balances for the year ended 31 August 20X2.

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At the end of the year Parag valued the closing inventory at £11,230.
Prepare an income statement for the year ended 31 August 20X2.

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Financial Accounting

ISBN: 9781444170412

1st Edition

Authors: Bev Vickerstaff, Parminder Johal

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Question Posted: Jun 25, 2024 04:01 AM

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Parag runs a shop selling sports equipment and a range of sports clothing. Trading times have been

Question:

Revenue Wages Purchases 102,800 10,980 68,760 Cleaning 1,420 Light and heat 1,380 Inventory (01.09.X1) 17,895 Rent and rates 9,640 Van expenses 2,320 840 Staff uniforms Office expenses 960

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Financial Accounting

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