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Accounting

Additional Information

1. The Company during the year paid AED 200,000 for security deposit and bank charges of AED 40.

2. The Warehouse reported inventory stock count of AED 286,500.

3. XYZ Company's confirmation ,( Customer ) stated a balance of AED 475,000/-The Company's book balance shows AED 495,000/-which later proved there was double posting of proforma Invoice .The accountant did not rectify the accounts at the end of the year.

4. The Company's policy on allowances for doubtful accounts is 5% of Accounts receivables.

5. The three Shareholders daclared dividends of AED 250,000 each and which will be paid on the 10th of the following year.

Required -

1. Prepare the Adjusted statement of financial position.

2. Prepare adjusted statement of comprehensive income.

3. Prepare a statement of Changes in equity

4. Prepare adjusting entries.

Attachment:- Accounting Assignment.rar

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92061711

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