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

Preparation of financial statements — practice question

For the year ended 30 September 2023, B Limited supplied the information below.
(a)[10]

Prepare an extract from the statement of profit or loss for the year ended 30 September 2023, beginning with gross profit for the year.

(b)[15]

Prepare the statement of financial position at 30 September 2023. Use the answer space on page 7 to set out your workings.

(c)[5]

Advise the directors which option they should select. Justify your answer.

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