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See the clear drawings figure on the second photo Donald Brown, a sole trade, extracted the following trial balance on 31 December 2020 . The
See the clear drawings figure on the second photo
Donald Brown, a sole trade, extracted the following trial balance on 31 December 2020 . The following information as at 31 December is also available. (a) \$218 is owing for motor expenses. (b) $680 has been prepaid for rent. (c) Department is to be charged for the year as follows. Motor vehicles: 20% on cost Fixtures and fittings: 10% reducing balance method (d) Inventory at the close of business was valued at $19,926. Required (a) Prepare Donald Brown's statement of profit or loss for the year ended 31 December 2020. (b) And the Statement of financial Position as at that date Step by Step Solution
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