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(a) Show the club’s accumulated fund (capital) on 01/01/2015.(b) Show the income and expenditure account for the year ending 31/12/2015.(c) Distinguish between ‘levy’ and ‘life membership’. Explain how both are treated in the accounts.
(2016)
(a) Prepare a Statement/Balance Sheet showing O’Neill’s profit or loss for the year ended 31/12/2015. (Show your workings.) (b) What advice would you give O’Neill in relation to record keeping?
The following figures have been extracted from the final accounts of Doherty Ltd, a service provider in the tourist industry, for the year ended 31/12/2015.
(a) Journalise the necessary corrections.(b) Show the suspense account.(c) Prepare a statement showing the corrected net profit.(d) Prepare a corrected balance sheet.(e) Explain: (i) Compensating errors. (ii) Errors of original entry.
(a) Prepare the published profit and loss account for the year ended 31/12/2015 and a balance sheet as at that date in accordance with the Companies Acts and appropriate accounting standards showing the following notes: 1. Accounting policy note for ta
