Question 1
Sweets Are plc is an Iona-established sweets and confectionery manufacturer. All products are manufactured in the, UK. but sales are made worldwide. It is a growing but competitive market. Given below are extracts from their financial statement.
Question 2
The following balances relate. to Wales plc for the year ended 31″ Member 2021:
The following information is relevant:
Corporation tax for the year is estimated at £100.000.
Salesmen are owed a commission of £3,000 in respect of December sales. It will be paid on 31 January 2022 and has not been recorded in the ledger accounts yet.
Goods valued at £980 were sent to customers on 31St December 2021. Payment is due on 28 February 2022. This has not been recorded in the ledger accounts yet.
The preference shares should be included within equity.
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