The following balances relate to Wales plc for the year ended 31st December 2022: ...

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Accounting

The following balances relate to Wales plc for the year ended 31st December 2022:
Sales (revenue)900,000
Equipment at cost 650,000
Equipment accumulated depreciation 130,000
4% Debentures 100,000
Cost of sales 578,650
Administrative expenses 160,000
Interest paid 2,000
Directors remuneration 5,000

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