Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

Rowsell does not maintain complete accounting records. Nevertheless, the information below is available for the year ended 31 May 2017:
(a)[12]

Prepare an income statement for the year ended 31 May 2017.

(b)[3]

State three advantages of maintaining full double entry accounting records for a business.

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