Accounting Concepts

Table of Content 1. Introduction2 2. Trading and earns and Loss banknotes and appropriation look for the year terminate 31 March 20123 3. menstruum Account at 31 March 20124 4. Balance tied(p) at 31 March20125 5. Eight basic Accounting concepts and conventions 5 6. controversy of references10 1. Introduction The fusion business jointly carrying on by you 2 fundament and Joe is a common cast of business organisation. The briny statements of union are the trading and return and loss ciphers of the partnership, annexation depend of each partner, Capital account and current account of each partner. The accounts of the partnership should be wide-awake in unison with basic accounting concept and convention. In this report, I depart include a) A trading and profit and loss accounts and appropriation account of the John & Joe partnership for the year ended 31 Mar 2012 b) Current account for John and Joe at 31 March 2012 c) Balance rag of John and Joe partnership as 31 March 2012. I will alike explain eight accounting concepts and conventions with congressman to demonstrate these concepts. 2.

John and Joe Trading and Profit and Loss Account for family terminate 31 March 2012 | $| $| Sales (192,000-3,000)| | 189,000| Inventory as at 1 April 2011| 14,000| | Purchase| 128,000| | Inventory as at 31 March 2012| (13,600)| 128,400| Gross profit| | 60,600| Administrative expenses| 29,298| | insurance policy (9,800-1,800 x 11/12) | 8,1 50| | Depreciation (40,000 x 10%)| 4,000| ! | uncool debt | 600| | cooking for doubtful debts (W1)| 436| | Provision for depreciation Office Equipment| 7,600| 50,084| final examination Profit| | 10,516| Allocated to :| John| 6,309.60| | Joe| 4,206.40| Profit and Loss Appropriation Account for Year Ended 31 March 2012 | $| $| $| | John| Joe| centre| Net Profit|...If you want to get a wide of the mark essay, commit it on our website: OrderCustomPaper.com

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