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please solve it in 30 mins I will thumb you up please fast Question 3 From the following trial balance of John Brown, grocery store
please solve it in 30 mins I will thumb you up please fast
Question 3 From the following trial balance of John Brown, grocery store owner, prepared an Income Statement for the year ended 31 December 2020, and a Statement of Financial Position as at 31 December 2020, taking into consideration the adjustments shown below. Adjustments: i. Closing stock on 31 December 2020, $12,000. ii. Accrued wages $500. iii. Rates prepaid, $50. iv. The provision for doubtful debts to be increased to 10% of debtors. v. Telephone account outstanding, $22. vi. Depreciate shop fittings at 10% per annum, and van at 20% per annum, using the reducing balance methodStep by Step Solution
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