- Corporate Finance and Business Valuation Assignment
- HNC-D 10 Financial Accounting Assignment
- MN5612 Digital Marketing Strategy Assignment
- Social Roles In The Caring Professions Assignment Brief
- Computing Engineering and Science Assessment Brief
- Assignment Brief – Level 3 Diploma in Health and Social Care 2024
- UNIT 45 IOT L5 BTEC HND Assignment Brief Sep 2024
- Computing Assignment 2024
- Developmental Psychology Assignment 2024
- Artificial Intelligence Assignment 2024
- Management and Organisation Assignment 2024
- Health and Social Care Assignment 2024
- NVQ Level 5 Unit 510: Understand how to make effective and positive decisions: Decision Making In Adult Care, Assignment, UK
- CIPD Level 7 7CO01 : June 2024 – Assess the trend towards greater globalisation of international business activity: Work and working lives in a changing business environment, Assignment, UK
- Level 6 NVQ : Describe the nature and role of a positive health and safety culture within the organisation: Diploma in Occupational Health and Safety Practice, Assignment, UK
- Review relevant organizational behaviour theories, such as conflict resolution strategies, leadership styles, and team dynamics: People and organisations, Assignment, UK
- 3CO02: Explain what evidence-based practice is and how it might be applied within an organisation : Principles of analytics CIPD Level 3, Assignment, UK
- Wind tunnel testing plays an important role in the design of aircraft. It provides a check on the accuracy of the initial design: Aerospace Engineering, Coursework, UOL, UK
- Select and apply appropriate computational and analytical techniques to model complex problems, recognising the limitations of the techniques employed :AHEP- Assignment 1 , UK
- Cipd level 5 5HR01 Assignment 3 June 2024 : Employment relationship management, UK
AC4052QA Elwira Ventures: The following trial balance was extracted from the books of Elwira Ventures: Financial Accounting Assignment, LMU, UK
| University | London Metropolitan University (LMU) |
| Subject | AC4052QA Financial Accounting |
Question 2
Elwira Ventures
The following trial balance was extracted from the books of Elwira Ventures, a spare parts merchant, at the close of business on 31 December 2020
Do You Need Assignment of This Question
Additional Information
1. Inventory on 31 December 2020 was £3,400.
2. Elwira took out spare parts costing £500 for the repair of her private car.No
payment was made for these goods.
3. Rent prepaid on 31 December 2020 was £1,200.
4. Motor running expenses owing on 31 December 2020 was £90.
5. Provide for depreciation on 31 Dec 2020 as follows: Delivery Van 45% on the reducing balance basis and Shop fittings 35% on the straight-line basis.
Required:
a) Draw up Elwira Ventures income statement for the year ended31December2020
b) Draw up Elwira statement of financial position as at 31 December 2020
c) In one sentence, state the effect of the following on income statement andstatement of financial position.
i. Prepaid income.
ii. Prepaid expense.
iii. Accrued income.
iv. Accrued expense.
Buy Answer of This Assessment & Raise Your Grades
Are you a student at London Metropolitan University (LMU) struggling with your AC4052QA Financial Accounting assignment? Look no further! We specialize in providing top-notch assignment writing help UK services tailored to meet the academic needs of LMU students. Our expert team is well-equipped to assist you in tackling challenging topics like the trial balance extracted from the books of Elwira Ventures.
Say goodbye to academic stress and excel in your Financial Accounting course with our reliable Accounting Assignment Help specifically designed for LMU students. Trust us to guide you through your coursework, allowing you to focus on your studies while we handle the intricacies of your assignments.
Answer
