Question
A Senior Citizens' Club runs a grocery shop. During the month of May 2003, the takings from the grocery were K8700 and grocery purchases were
A Senior Citizens' Club runs a grocery shop. During the month of May 2003, the takings from the grocery were K8700 and grocery purchases were K6300. Inventories and creditors for the grocery purchases were as follows:
Inventory 1 May 1200
Inventories 31 May 1800
Creditors 1 May 600
Creditors 20 May 900
The grocery manager's pay for the month amounted to K1500.prepare the grocery trading and profit and loss account for the month.
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
