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  • C - A - Sole Trader

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    Fatima is a sole trader who prepares her financial statements annually ending March 31. The summary provides Fatima's ledger account balances as of March 31, 2022, including revenue of $79,400 and expenses such as purchases, rent, wages, and inventory balances from the start and end of the fiscal year. Additional information includes drawings of $8,580 and a new loan taken out between March and May 2022.

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    C_A_ Sole Trader

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    Fatima is a sole trader who prepares her financial statements annually ending March 31. The summary provides Fatima's ledger account balances as of March 31, 2022, including revenue of $79,400 and expenses such as purchases, rent, wages, and inventory balances from the start and end of the fiscal year. Additional information includes drawings of $8,580 and a new loan taken out between March and May 2022.

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    © All Rights Reserved
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    3 views1 page

    C - A - Sole Trader

    Uploaded by

    hanthiwinko
    Fatima is a sole trader who prepares her financial statements annually ending March 31. The summary provides Fatima's ledger account balances as of March 31, 2022, including revenue of $79,400 and expenses such as purchases, rent, wages, and inventory balances from the start and end of the fiscal year. Additional information includes drawings of $8,580 and a new loan taken out between March and May 2022.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    6

    2 Fatima is a sole trader. She prepares her financial statements to the end of March each year.

    At 31 March 2022, Fatima’s ledger account balances included the following.

    $
    Revenue 79 400

    Sales returns 3 970

    Purchases 36 500

    Rent and rates 9 000

    Wages 10 100

    General expenses 1 287

    Insurance 1 800

    Discount received 1 095

    Inventory at 1 April 2021 3 000

    Fixtures and equipment at cost 80 000

    Loan 39 040

    Trade receivables 6 400

    Trade payables 4 995

    Cash drawings 8 580

    Capital at 1 April 2021 59 000

    The following information is also available.


    1 Inventory at 31 March 2022 was $3120.

    5 of $1500 for the 3 from 1 March 2022 to 31 May 2022.

    © UCLES 2022 0452/21/M/J/22

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