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Prepare the financial statements for Sea View Tour

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Question - Sea View Tour operates a large catamaran which takes tourists at several island resorts on diving and sailing excursions. The company adjusts its account at the end of each month and closes its account at the end of each year. At 31 May 2021, the accounts balances appeared as below:

Required - Prepare the following financial statements for Sea View Tour:

1. Income Statement for the year ended 31 May 2021.

2. Balance Sheet as at 31 May 2021.

Reference no: EM133172763

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