Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mr R.Wynter operates a grocery shop. He keeps an incomplete set of records. The details of the business at September 30, 2022 were as
Mr R.Wynter operates a grocery shop. He keeps an incomplete set of records. The details of the business at September 30, 2022 were as follows: $ Cash Bank Debtors Creditors Stock Motor Van Premises 600 900 8750 9375 6500 3000 5000 Mr wynter's capital was $27500 at October 1, 2021. Wynter withdrew $300 each month for his private use. He agrees that his motor van should be depreciated by $600 and his premises by $200. You are required to: I. Prepare Mr Wytner's Balance Sheet, showing his financial position on September 30, 2022. (15 marks) II. Prepare a statement to show Mr Wytner's profit or loss for the year October 1, 2021 - September 30, 2022. (3 marks) (Total 20 marks)
Step by Step Solution
★★★★★
3.46 Rating (156 Votes )
There are 3 Steps involved in it
Step: 1
a Mr Wytners Balance Sheet ASSETS Current Assets Cash 600 Bank 900 Creditors 9375 Stock 6500 TOTAL ...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