FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Financial Transaction Analysis
The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…
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FINANCIAL MANAGEMENT Example . The table below shows transactions from Mr. Situmbeko's business for the year ended 31 December, 2016. Prepare a trading and profit and loss account for the year ended 31 December 2016 Prepare also a balance sheet as at December 2016. Stock at 31- December 2016 was K12.408. Sales Purchases Salaries Motor expenses Rent Insurance General expenses Premises Motor vehicles Debtors Creditors Cash at bank Cash in hand Drawings Capital K 190,576 119,832 56,527 2,416 1,894 372 85 95,420 16,594 26,740 16,524 16,519 342 8,425 138,066
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Transcribed Image Text:FINANCIAL MANAGEMENT Example . The table below shows transactions from Mr. Situmbeko's business for the year ended 31 December, 2016. Prepare a trading and profit and loss account for the year ended 31 December 2016 Prepare also a balance sheet as at December 2016. Stock at 31- December 2016 was K12.408. Sales Purchases Salaries Motor expenses Rent Insurance General expenses Premises Motor vehicles Debtors Creditors Cash at bank Cash in hand Drawings Capital K 190,576 119,832 56,527 2,416 1,894 372 85 95,420 16,594 26,740 16,524 16,519 342 8,425 138,066
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