Accounting – 5.2 Partnerships | e-Consult
5.2 Partnerships (1 questions)
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Answer 3
Green Grocers
Income Statement
For the year ended 31 March 2024
| Item | Amount (£) |
| Revenue | 65,000 |
| Cost of Goods Sold | 40,000 |
| Gross Profit | 25,000 |
| Administrative Expenses | 12,000 |
| Finance Costs | 3,000 |
| Profit Before Tax | 9,000 |
| Tax Expense | 2,250 |
| Profit After Tax | 6,750 |
| Dividends | 1,500 |
| Retained Earnings | 500 |
Green Grocers
Statement of Financial Position
As at 31 March 2024
| Assets | Amount (£) |
| Non-Current Assets | |
| Current Assets | |
| Equity and Liabilities | |
| Capital | 10,000 |
| Retained Earnings | 6,750 |
| Current Liabilities | |
| Total | 16,750 |
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