Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello, i need a balance sheet and the double entries to cross reference my asnwer. Could you please explain your workings, thank you. Question 4:

hello, i need a balance sheet and the double entries to cross reference my asnwer. Could you please explain your workings, thank you.
image text in transcribed
Question 4: Bits and Pieces Ltd Bits and Pieces Ltd runs a hardware store supplying items to the wholesale trade. The company's trial balance at 30Apcil20X8 before any final adjustments have been made is as follows: The following additional information is availsble: 1. Depreciation is to be peovided at the following rates: Shop fittings 10h per year on cost. Delivery vans 20% per ycar using the decreasing balanee method. 2. Inventory was counted at the close of bersiscss on 30Apri208 and was valuod at cont, 271,220 . This figure included 11,580 for some damagod goods, which would normally be sold foe 23,250 . They were sold in a clearanee sale in May 208 for E1,200, 1. A customer notified the company on 26 A pril that he was returning gocals of the wroas: specification for which he had been invoiced 85,200 . The returned goods were received inte the shop on 2 May on which dale the return was legertled in the good condition. 4. Had debts of 2,700 are to be written off, and the provision for doubefol debes is to be increased to fl? 3,40. dehemue laen. Question 4: Bits and Pieces Ltd Bits and Pieces Ltd runs a hardware store supplying items to the wholesale trade. The company's trial balance at 30Apcil20X8 before any final adjustments have been made is as follows: The following additional information is availsble: 1. Depreciation is to be peovided at the following rates: Shop fittings 10h per year on cost. Delivery vans 20% per ycar using the decreasing balanee method. 2. Inventory was counted at the close of bersiscss on 30Apri208 and was valuod at cont, 271,220 . This figure included 11,580 for some damagod goods, which would normally be sold foe 23,250 . They were sold in a clearanee sale in May 208 for E1,200, 1. A customer notified the company on 26 A pril that he was returning gocals of the wroas: specification for which he had been invoiced 85,200 . The returned goods were received inte the shop on 2 May on which dale the return was legertled in the good condition. 4. Had debts of 2,700 are to be written off, and the provision for doubefol debes is to be increased to fl? 3,40. dehemue laen

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internet Fraud Casebook

Authors: Joseph T. Wells

1st Edition

0470643633, 9780470643631

More Books

Students also viewed these Accounting questions

Question

The nature and importance of the global marketplace.

Answered: 1 week ago