Question 3Leonardo Da Vinci, who sells computers, has extracted the following balances from the accounts.L Da VincTrial Balance as at 31 December 2017ParticularsDebitCredit3.Sales105,000Sales retums8,000Purchases70,000Purchases renurns1,800Opening stockDrawingsSundry DebtorsSundry Creditors CA6,5008,50012,00013,000Cash in bank1,800CA NCLLong-term loanDiscounts allowed to customers6,600300Carriage inwards ExBusiness premises E25018,000Motor vanFA NCA7,500Computers E xP1,500WagesCメマEx32,500Electricity E*Telephone ERpInsurance825325225Rent1.250Business rates & taxes1,000Equity Share Capital E44,075170,475170.475Required:Prepare Ds Vinci's Income Statement for the year ended 31 December 2017 and a statement of financial positiat 31 December 2017. The closing inventory on the day was 2,300.ccoas)CA CA NCLQuestion 3Leonarde Da Vinci, who sells computers, has extracted the following balances from the accounts.L Da VinciTrial Balance as at 31 December 2017ParticularsDebitCreditSales105,000Sales retums8,000Purchases70.000Purchases returns1,800Opening steckDrawingsSundry DebtorsSundry Creditors CACash in bank6,500EX8,50012,00013,0001,800Long-term loanDiscounts allowed to customers6,600300Carriage inwards ExBusiness premises EMotor van *Computers EXPWages25018,000NCA7,5001,500CメPElectricity ETelephone EX32,500P825325InsuranceL225ExPBusiness rates & taxesRent1.2501,000Equity Share Capital E44.075170,475170.475Required:

Name: Question 3Leonardo Da Vinci, who sells computers, has extracted the f
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Description: Question 3Leonardo Da Vinci, who sells computers, has extracted the following balances from the accounts.L Da VincTrial Balance as at 31 December 2017ParticularsDebitCredit3.Sales105,000Sales retums8,000Purchases70,000Purchases renurns1,800Opening s

The income statement is prepared by the company to calculate the amount of net loss or net profit…

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Leonardo Da Vinci, who sells computers, has extracted the following balances from the accounts. L Da Vinci Trial Baiance as at 31 December 2017 Particulars Debit Credit 3. Sales 105,000 Sales retums 8,000 Purchases 70.000 Purchases returns 1,800 Opening stock BDrawings Sundry Debtors 3 Sundry Creditors CA 6,500 EX 8,500 12,000 13,000 Cash in bank CA NCL 1,800 Long-term loan Discounts allowed to customers 6,600 300 Carriage inwards Ex Business premises E Motor van NCA Computers EXP 250 18,000 7,500 1,500 Wages Cメマ 32,500 Electricity Ee Telephone EP 825 325 Insurance eL 225 Ex P Rent 1.250 Business rates & taxes 1,000 Equity Share Capital E 44.075 170,475 170.475 Required: Prepare Ds Vinci's Income Statement for the year ended 3 1 December 2017 and a statement of financial posie at 31 December 2017. The closing inventory on the day was 2,300. - ccoas)

Leonardo Da Vinci, who sells computers, has extracted the following balances from the accounts. L Da Vinci Trial Baiance as at 31 December 2017 Particulars Debit Credit 3. Sales 105,000 Sales retums 8,000 Purchases 70.000 Purchases returns 1,800 Opening stock BDrawings Sundry Debtors 3 Sundry Creditors CA 6,500 EX 8,500 12,000 13,000 Cash in bank CA NCL 1,800 Long-term loan Discounts allowed to customers 6,600 300 Carriage inwards Ex Business premises E Motor van NCA Computers EXP 250 18,000 7,500 1,500 Wages Cメマ 32,500 Electricity Ee Telephone EP 825 325 Insurance eL 225 Ex P Rent 1.250 Business rates & taxes 1,000 Equity Share Capital E 44.075 170,475 170.475 Required: Prepare Ds Vinci's Income Statement for the year ended 3 1 December 2017 and a statement of financial posie at 31 December 2017. The closing inventory on the day was 2,300. - ccoas)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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