Accounts for the year ended 31 July 1986.
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Accounts for the year ended 31 July 1986. by University of Ulster.

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Published by The University in [Coleraine] .
Written in English


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ID Numbers
Open LibraryOL14261131M

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The University's financial year runs to 31 July. Annual financial statements are approved by Council in late November and are then published, together with the external auditors' report, in the Cambridge University Reporter. The University's Annual Report also includes the audited financial statements. TRADING AND PROFIT AND LOSS ACCOUNT of Olivia Boulton for the year ended 31 December ££ Sales , Opening stock (1 January ) 50, Purchases , , Less Closing stock (31 December ) 42, Cost of sales , Gross profit , Less overheads: Shop expenses 6, Wa Rent paid Telephone expenses Prepare the Machine Account for years ended 31st March, to after charging Depreciation @10% p.a. by Diminishing Balance Method. Accounts are closed on 31st March every year. Solution: Question A firm purchased on 1st April certain machinery for Rs.5,82, and spent Rs, on . Their Profit and Loss Account for the year ended 31 August showed a net profit of $ It was then found that the following errors had been made. 1. No entry had been made for a stock of stationery, $30, on 31 August 2. The stock of goods for re-sale on 31 August had been valued at selling price, $, instead of cost price.

From the information below, you are required to prepare a Trading and Profit and Loss Account for the year ended 31st March, and the statement of affairs on that date: Trading and Profit and Loss Account: Problem with Solution # Mr. Slipshod started business as a . For the year ended Decem Year 1 Service costs: 90, Contributions made, Benefits paid: 72, Green Industries uses the straight-line method of amortization over the maximum period permitted. The company has an effective tax rate of 30%. 1. Interest Costs 2. Expected Return on Plan Assets 3. Actual Return on Plan Assets 4. *Problem A Milton Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30 the Notes Receivable account .   You add up your accounts receivable ledgers and find that your total receivables are $16, on Decem Your accounts receivable balance on Decem , which is currently shown in your general ledger, was $13, You need to make the following adjusting entries to update your year-end accounts receivable balance.