Calculate Ben’s opening capital and his closing capital.
Calculate the profit for the year using the table below. Use your opening and closing capitals from 2(a), and show whether each of Ben’s transactions should be added to or deducted from opening capital.
Calculate the credit purchases for Ben for the year ended 31 March 2024.
Calculate Ben’s total sales for the year ended 31 March 2024 from the information provided.
Advise Ben on whether he ought to employ a book-keeper. Support your answer with two advantages and two disadvantages of employing a book-keeper.
Which accounting principle is he using when he creates a provision for doubtful debts?
Complete the table by putting a tick (✓) to show the effect that creating a provision for doubtful debts would have on Ben’s profit for the year, trade receivables and cash at bank.