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4 marksIncome Statements and Balance Sheets for Sole Traders

CSEC Principles of Accounts · January 2012 · Paper 2 · Question 1(a)

The trial balance of VIP Enterprises as at 30 November 2011 is provided.

Prepare the Income Statement of VIP Enterprises for the year ended 30 November 2011.

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Other parts of this question

  1. 1(b)Prepare the classified Balance Sheet for VIP Enterprises as at 30 November 2011 in vertical style, identifying clearly the business' working capital.[12 marks]
  2. 1(c)(i)Calculate the stock turnover for VIP Enterprises, showing your workings.[2 marks]
  3. 1(c)(ii)Calculate the return on opening capital employed (ROCE) for VIP Enterprises, showing your workings.[2 marks]

More practice: the rest of this paper · more Income Statements and Balance Sheets for Sole Traders questions · all CSEC Principles of Accounts past papers