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please solve fo a non-accounting students ASAP THUMPs UP IS READY!! The following balances have been extracted from the books of XYZ Company for the
please solve fo a non-accounting students ASAP
THUMPs UP IS READY!!
The following balances have been extracted from the books of XYZ Company for the year to 31/12/2019 Dr USS 10,000 Cr USS 70,000 Cash at bank and in hand Plant and equipment: At cost Accumulated depreciation (at 31.12.19) Retained earnings (at 1.2.2020) Profit for the financial year (to 31.12.19) Share capital issued and fully paid) Inventory (at 31.12.19) Trade payables Trade receivables 25,000 15,000 20,000 50,000 27,000 17,000 20,000 127,000 127,000 Additional information: 1 Corporation tax owing at 31 December 2019 is estimated to be $3000. 3 A dividend of 10p per share is proposed but not paid as of 31.12.2019 Prepare XYZ (1) statement of profit or loss and (2) statement of retained earnings, and (3) a statement of financial position for the year to 31 December 2019Step by Step Solution
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