Question
Prepare an income statement for the year ended 30 June 2023 from the following information. Revenue P40 000; Premises P7 500; Trade payables P10,000; Discount
Prepare an income statement for the year ended 30 June 2023 from the following information. Revenue P40 000; Premises P7 500; Trade payables P10,000; Discount received P1 000; Wages and salaries P2 500; Purchases P28 000; Insurance P750; Bank loan P8 250; Rent P3 000; Trade receivables P8 600; Electricity P900; Bank P6 700; Opening inventory P1 300, and closing inventory P4500
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Financial Accounting Theory
Authors: Craig Deegan
2nd Edition
0077126734, 978-0077126735
