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Profit or Loss made by Barnes Assignment | Top Universities

Author:
January 22nd, 2020

During the year to 31 October 2017, his drawings amounted to £32,200. Winnings from the Lottery of £7,600 were put into the business. Extra fixtures were bought for £900.

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At 31 October 2017, his assets and liabilities were: Cash £190; Bank overdraft £1,810; Inventory £23,900; Accounts payable for goods £9,100; Accounts payable for expenses £320; Fixtures to be depreciated £370; Van to be valued at £5,440; Accounts receivable £29,400; Prepaid expenses £460.

Draw up a statement showing the profit or loss made by Barnes for the year ending 31 October 2017. Get Accounting homework help today

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