London Ventures has been trading for a number of years as a wine merchant the following list of balances: Accounting for business managers, Assignment, DMU, UK

Task1

You are provided below the Trial Balance of London Ventures for the year ended 31 March 2021.

London Ventures has been trading for a number of years as a wine merchant the following list of balances has been extracted from his ledger as of 31 March 2021, the end of his most recent financial year.

Thefollowingadditionalinformation isavailableasat31March2021:

Inventoriesatthecloseof businesson31March2021wasvalued at£20,550
Insuranceshavebeenprepaidby£850
HeatingandLightingisaccruedby£1,100
Rateshavebeenprepaidby£2,482
Delivery costisaccruedby£905
Depreciation chargeforFixturesandFittingsfortheyear£11,584.
DepreciationchargeforMotorVehiclesfortheyear£9,440.
PrepareanIncomeStatementfortheyearended31March2021forLondonVenturs
Preparea StatementofFinancialPositionasat31March 2021forLondonVentures.

Task2

Identify3possible limitationsoftheIncomeStatementforLondonVentures

Task3

Identify3possible limitationsof theStatementoffinancialpositionforVentures

Task4

Explain how London Ltd can effectively manage the following:

Inventory Days
TradePayable Days
TradereceivableDays

The post London Ventures has been trading for a number of years as a wine merchant the following list of balances: Accounting for business managers, Assignment, DMU, UK appeared first on Diploma Assignment Help UK.