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hi i need help The following is a trail balance of ACC Limited for the year ended 31 December 2014: Additional information: 1. Inventory on
hi i need help
The following is a trail balance of ACC Limited for the year ended 31 December 2014: Additional information: 1. Inventory on 31 December 2014 : Trading inventory Packing Material R6 500 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 2014Step by Step Solution
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