Please help.can anyones give a detailed explanation .Question22.10A (prepare the income statement) T 1 answer below »


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Please help.can anyones give a detailed explanation .Question22.10A (prepare the income statement) Thanks you for your help.

un cevable and accounts payable umulated depreciation on motor vehicle at 1 September 2017 Catalar September 2017 63,900 Dros At 31 August 2018 there was – Inventory valued at cost prices 29,100 – Accrued rent of £400 Prepaid business rates of (300 The motor vehicle is to be depreciated at 20 per cent of cost for the year to 31 Auguson with a balance sheet Required: The adjustments to the ledger accounts for rent and business rates for the ve 2 An income statement for the year ending 31 August 2018, together with a bala that date lance from his books at the do 22.10A J. Wright, a sole trader, extracted the following trial balance from his books of business on 31 March 2019: Dr 61,420 7,940 127.245 Purchases and sales Inventory 1 April 2018 Capital 1 April 2018 Bank overdraft Cash Discounts Returns inwards Returns outwards 23,930 2.490 140 2,480 3,486 1,356 Chapter 22 – 3.210 8.870 760, which of 14,167. Carriage outwards Rent and insurance Allowance for doubtful debts Fixtures and fittings at cost Van at cost Fixtures and fittings ac Drawings Wages and salaries General office expenses 168,383 1.500 and fittings: accumulated depreciation at 14.18 5.600 Van: accumulated depreciation at 1.4.18 scounts receivable and accounts payable 12.418 11.400 21.400 39,200 319 158,383 Notes (a) Inventory 31 March 2019 £6.805. W Wages and salaries accrued at 31 March 2019 £3,500: Office expenses owing £16. (d) Rent prepaid 31 March 2019 £600, (d) Increase the allowance for doubtful debts by £110 to £740 le) Provide for depreciation as follows: Fixtures and fittings £190; Van £1,400 Required: Prepare the income statement for the year ending 31 March 2019 together with a balance sheet as at that date. 900 22.11 Mr Khan is a sole trader and you are given the following information relating to his business Triathlon 3 Sentember 2020