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can any one help me with this! The following information has been gathered from the accounting records of Jonathan's Hair Stylists. Assets and liabilities ():
can any one help me with this!
The following information has been gathered from the accounting records of Jonathan's Hair Stylists. Assets and liabilities (): Cash in till register Overdraft with the bank Borrowings from a relative Trade receivables Hairdressing supplies Buildings, furnitures 684 12,000 100 450 66.000 Revenue and expenses for the year (6) Amounts charged for work done 40,400 Wages to employees Hairdressing supplies Interest on borrowings Interest on overdraft Cost of administration Cost of advertising 16.500 5,400 1.080 123 2,060 950 Calculate: I. The amount of ownership interest at the beginming of the year: 2. The amount of net profit for the year 3. The amount of the ownership interest at the end of the yearStep by Step Solution
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