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Problem 1: Angela ´s business pays for its lighting and heating usage in arrears. The business ´s books showed an accrual in connection with lighting and heating expenses of £480 as at 1 January 2020 and an accrual of £910 as at 31 December 2020. The cash book revealed that the business made payments totalling £2,930 for lighting and heating during 2020. What figure should appear for ´lighting and heating expense in Angela ´s Income Statement for the year ended 31 December 2020?
Problem 2: Belinda is a sole trader. Her business's financial year ends on 31 July each year. Machine maintenance costs accrued of £325 as at 31 July 2019 were treated as prepaid in her Income Statement for the year ended 31 July 2019. Was her het profit for the year understated or overstated as a results, and by how much?
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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