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11 marksIncome Statements and Balance Sheets for Sole Traders

CSEC Principles of Accounts · January 2016 · Paper 2 · Question 5(a)

Derek Davis of DD's Jam Shoppe provides trial balance figures and additional adjustment information as at 31 March 2015.

Prepare an Income Statement (Profit and Loss Account) for the quarter ended 31 March 2015 for DD's Jam Shoppe, beginning with Gross Income.

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Other parts of this question

  1. 5(b)(i)Draw up the list of Current Assets, using the order of permanence.[4 marks]
  2. 5(b)(ii)Draw up the list of Current Liabilities.[3 marks]
  3. 5(b)(iii)Calculate the Working Capital, showing all workings.[2 marks]

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