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Answer Posted / thimmappa poojari
One of the most important tool used for financial reports
analysis in which quantities of amounts are converted into
quantitative ratio for meaningful comparisions with past
financial reports. And also to comapre the
performance /status with that of other simliar / different
industry / firms.
Ratio analysis is a base to understand & to take action on
weaknesses or strengths of the particular firm/business and
so it's a trend setter.
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Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
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