Prepare a forecast Statement of Profit or Loss for the year 2021for Granita Ltd using the information provided.
Question 1 MamboLtd operates a small chain of computer shops. The following trial balance was extracted from the booksof MamboLtd as at 31 December 2020.DebitCredit££Sales213,690Purchases89,280Inventory as at 01 January 202013,020Trade receivablesand payables19,59015,630Delivery expenses2,400Electricityexpenses7,950Salaryexpenses24,750Bad debtexpenses690Allowancefor doubtful debts840Administration expenses7,020Advertising expenses9,720Buildingat original cost90,000 Furniture at original cost24,000 Vehicles at original cost36,000 Accumulated depreciationas at 01 January 2020-Building7,200 Accumulated […]