Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 5 The following financial information relates to Grand Investment: Details Pula Amount Capital 8 3 8 8 7 Trade accounts recievable 2 4 5

Question 5 The following financial information relates to Grand Investment: Details Pula Amount Capital 83887 Trade accounts recievable 24500 Purchases 135680 sales 259870 Trade Account payables 19840 Returns out 13407 Allowance for doubtful debts 512 Discount allowed 2306 Discount receieved 1750 Returns inwards 5624 Carriage outwards 4562 Drawings 18440 Carriage inwards 11830 Rent, rates and insurance 25973 Heating,stationery and telephone 11010 Advertising 2410 Salaries and wages 38521 Bad debts 2008 Cash in hand 534 Cash at bank 4440 Inventory as at 1 May 201615654 Fixtures and fittings- at cost 120740 Accumulated depreciation 1 May 201663020 Depreciation 12074 Required: (a) Prepare an Income Statement for the business for the year ended 30 April, 2024.Question 5 The following financial information relates to Grand Investment: Details Pula Amount Capital 83887 Trade accounts recievable 24500 Purchases 135680 sales 259870 Trade Account payables 19840 Returns out 13407 Allowance for doubtful debts 512 Discount allowed 2306 Discount receieved 1750 Returns inwards 5624 Carriage outwards 4562 Drawings 18440 Carriage inwards 11830 Rent, rates and insurance 25973 Heating,stationery and telephone 11010 Advertising 2410 Salaries and wages 38521 Bad debts 2008 Cash in hand 534 Cash at bank 4440 Inventory as at 1 May 201615654 Fixtures and fittings- at cost 120740 Accumulated depreciation 1 May 201663020 Depreciation 12074 Required: (a) Prepare an Income Statement for the business for the year ended 30 April, 2024.Question 5 The following financial information relates to Grand Investment: Details Pula Amount Capital 83887 Trade accounts recievable 24500 Purchases 135680 sales 259870 Trade Account payables 19840 Returns out 13407 Allowance for doubtful debts 512 Discount allowed 2306 Discount receieved 1750 Returns inwards 5624 Carriage outwards 4562 Drawings 18440 Carriage inwards 11830 Rent, rates and insurance 25973 Heating,stationery and telephone 11010 Advertising 2410 Salaries and wages 38521 Bad debts 2008 Cash in hand 534 Cash at bank 4440 Inventory as at 1 May 201615654 Fixtures and fittings- at cost 120740 Accumulated depreciation 1 May 201663020 Depreciation 12074 Required: (a) Prepare an Income Statement for the business for the year ended 30 April, 2024.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting An Introduction

Authors: Eddie McLaney, Peter Atrill

2nd Edition

0273655507, 978-0273655503

More Books

Students also viewed these Accounting questions

Question

Draw a schematic diagram of I.C. engines and name the parts.

Answered: 1 week ago

Question

Assess the requirements for strategic LMD

Answered: 1 week ago

Question

How can e-learning benefit organizations and individuals?

Answered: 1 week ago