User Account

All Pages

Prepare the accounts as requested and a balance sheet

Assignment Help Accounting Basics
Reference no: EM131536609

Question: B. Letitslide is in business but does not keep proper books of account. In order to prepare his Trading and Profit & Loss Account for the Year ended 31st December, 1960 you are given the following information:

1144_Stock 1.png

In addition, you are able to prepare the following summary accounts for the year

1102_Stock 2.png

In considering the debtors, Mr. Letitslide suggests that there is no hope of receiving an amount of £30 from one customer. There are other doubtful debts and a provision is to be made of 5 % of the debtors. Allowing depreciation on the Delivery Van of 20 % per annum, prepare the accounts as requested and a Balance Sheet as at 31st December, 1960.

Reference no: EM131536609

Questions Cloud

What is the binary equivalent : A NOR gate is called a universal gate element because-Digital computers are more widely used as compared to analog computers, because they are?
What advice do you have for student who want to grow careers : What are some of the most important lessons you've learned in your professional career? What advice do you have for students who want to grow in their careers?
Explain how the qualitative data would be analyzed : Explain how the qualitative data would be analyzed in order to identify trends and patterns in the qualitative responses collected
Describe the three different social media platforms : Write a 350- to 700-word summary describing using three different social media platforms with the objective of networking within your career field.
Prepare the accounts as requested and a balance sheet : B. Letitslide is in business but does not keep proper books of account. In order to prepare his Trading and Profit & Loss Account for the Year ended 31st.
Relation between cross correlation and auto correlation : What is the cross correlation sequence of the following sequences - What is the relation between cross correlation and auto correlation
Voluntary export restriction : Suppose Japan agreed to a Voluntary Export Restriction (VER) that reduced US imports of Japanese steel by 10%.
Manage the business cycle : What would happen if no one tried to manage the business cycle? What role do you see for the Executive Branch of the U.S. government in managing the business?
What is money and what functions does it perform : How is the supply of money measured? Who influences how much liquidity is created or reduced in the U.S. economy?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Old south company purchased investments for 55000 and plant

old south company purchased investments for 55000 and plant assets for 147000 during the current year during which it

  The projected benefit obligation and the accumulated

measuring and recording pension expense.presented below is information related to the pension plan of zimmer inc. for

  Problem regarding the human development index

The United Nations Development Programme (UNDP) collects data in the developing world to help countries solve global and national a) Explain why fitting a linear model to these data would be misleading.

  How do prospective and retrospective payment agreements

How do prospective and retrospective payment agreements affect the amount reported as net patient service revenue?

  Paid back 10 of its long-term debt received 25000 for the

lobnitz service companys balance sheet as of 01-01-11 is presented below 01-01-11 current assets cash 400000 accounts

  Evaluate the risks and rewards of such a move by the firm

This will result in significant cost savings for the firm; however, in the past, employees have been resistant to radical changes such as this. Evaluate the risks and rewards of such a move by the firm.

  Determine the amount of operating cash flows the company

A company provides services on account during the current year totaling $400,000. By the end of the year, $350,000 of this amount had been received on account from customers for services provided in the prior years. Determine the amount of operati..

  If dionne has no alternative uses for the manufacturing

dionne currently manufactures a subcomponent that is used in its main product. a supplier has offered to supply all the

  Consider the following facts to quantify the tax costs of

consider the following facts to quantify the tax costs of various taxable acquisition sturctures when the target is a

  Determine the contribution margin in dollars per unit and

in the month of june angelas beauty salon gave 3500 haircuts shampoos and permanents at an average price of 30. during

  Galati products also has an assembly division that

galati products inc. has just purchased a small company that specializes in the manufacture of electronic tuners that

  What is open source software?

What is open source software? What are the benefits and drawbacks for a business that uses open source software?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd