(a) Prepare the partnership’s trading and income statement and statement of division of profit for the year ended 31 March 20X3 (9 marks)b. Write up the partners’ current accounts for the year ended 31 March 20X3(3 marks) (12 marks in total). The most common type of partnership is one in which all partners share responsibility […]
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Without proper bookkeeping, businesses may face financial mismanagement, cash shortages, or even legal issues due to inaccurate reporting. Accrual accounting is the usual method of recordkeeping for small businesses because it immediately records the transaction. Most entrepreneurs now have customised accounting systems that have helped reduce time-consuming data entry tasks. Here is day to day
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