- General Defences to Criminal Liability Assignment UK
- The Principles of Business and Resource Management for Leaders of Adult Social assignment NVQ Level 5 Assignment UK
- Printed Circuit Board (PCB) Inspection Jig BTEC (RQF) Level 4 Assignment, PC, UK
- Property Law: Research, Case Analysis, and Legal Advice Assignment UK
- SCEE08002 Structural Mechanics 2 Laboratories Assignment UK
- Working in Partnership in Health and Social Care Assignment UK
- Aircraft Structural Mechanics 3 Design & Optimisation Project UK
- Responsibilities of a Health and Social Care Worker NVQ Level 3 Assignment, LCPA UK
- TC50324E: Measurement and Documentation Assignment 1, UOWL, UK
- Business Ethics and Responsible Management Semester 1 Assignment, URBS, UK
- Working in Partnership in Health and Social Care Management Assignment UK
- HH5561 Health Economics and Decision Modelling Assignment, UOG, UK
- Civil CEP: Numerical Analysis Assignment 1, UOB, UK
- CIPD Level 3 Foundation Unit 1 Assignment, OU, UK
- HSC301 State the Roles and Responsibilities Assignment, ILC, UK
- ProQual Level 6 NVQ Diploma in Occupational Health and Safety Practice Assignment UK
- 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
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
