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Need helps.... Financial statement
Asked Feb 14, 2006, 02:39 PM
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3 Answers This is the trial balance Debit (₤) Credit (₤) Bank 5,163 Buildings 55,000 Van 4,000 Shop fittings 5,200 Equipment 1,000 Capital 71,000 Cash 195 Purchases 5,500 Sales 5,150 Stationery 15 Cleaning 40 Lighting & heating 35 Motor expenses 52 Creditor 200 Debtor 150 SUM 76,350 ------ 76,350 |
3 Answers
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| Tell him he’s right. He doesn’t need you. Although then, you kind of won’t get that A on the assignment. Financial Statements are more than just finding out how much money a company has made or loss. External Users (other than him) who might need it are - lenders (like a bank, and they can be a real hard @$$ when it comes to giving out loans) - people who might want to invest in the company - other owner’s/shareholders - to satisfy laws (if it’s a public company trading on a stock exchange) | ||||
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