Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can I please get the awnser preper the statement of comprehensive income for ACC limited for the year ended 31 December 2014 (accounting) Additional information:
Can I please get the awnser preper the statement of comprehensive income for ACC limited for the year ended 31 December 2014 (accounting)
Additional information: 1. Inventory on 31 December 2014 : Trading inventory R6500 Packing Material R175 2. Debtor Jacob is insolvent. His debt of R140 has been written off as irrecoverable 3. Provision must be made for depreciation as follows: a. Vehicles 20% on diminishing balance method/reducing balance. b. Furniture 10% straight Line method. 4. A Debtor, Mr Fletcher who wed R230 finally managed to pay his debt that was previously written off as irrecoverable in 2010. This was not considered in the above trail balance. REQUIRED: Prepare the statement of Comprehensive income for ACC Limited for the year ended 31 December 2014. The following Is a trall balance of ACC Umited for the year ended 31 December 2014: Additional informationStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started