(a)[8]
Calculate the profit after adjustments for the year ended 31 December 2024.
(b)[3]
Prepare the appropriation account covering the year ended 31 December 2024.
(c)[4]
Prepare Viraj’s current account for the year ended 31 December 2024. Dates are not needed.
(d)[4]
Prepare an extract from the statement of financial position at 31 December 2024 showing only the capital and liabilities section.
(e(i))[2]
Explain, using an accounting concept, how goods taken by the owner for own use should be treated.
(e(ii))[2]
Explain, with reference to an accounting concept, how irrecoverable debts should be treated.
(f)[7]
Advise the partners on which option to select. Support your answer by comparing both options.