Prepare a trading, profit and Loss Account and Balance Sheet for the year November 30...
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Prepare a trading, profit and Loss Account and Balance Sheet for the year November 30 2021. There has been some adjustments on December 1, 2018 : Stock was valued at 44,698, Rates 5,598 were prepaid, An accural of 3,296 is to be made in respect of heat and light unpaid, depreciation for the year is to be provided as follows: Fixtures and Fitting- 15% per year using the straight line method, Motor Vehicles- 25% per year also using the straight line method. Bad debts of 1,590 need to be written off . The provision for bad debts for bad debts of 5% of remaining debtors is to be created. Include the calculations of the adjustments.
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