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10 cards from this deck
Business failed to maintain proper ledger accounts, leaving limited financial information
Control account & cashbook; Balance sheet mark-up/margin
Have cash transactions, bank records, assets & liabilities data
Extremely limited info - just balance sheet data at start/end
Business performance (profit/loss) & owner transactions
Income−Expenses\text{Income} - \text{Expenses}Income−Expenses
Sales−Cost of sales\text{Sales} - \text{Cost of sales}Sales−Cost of sales
Opening stock+Purchases−Closing stock\text{Opening stock} + \text{Purchases} - \text{Closing stock}Opening stock+Purchases−Closing stock
Opening+Additions−Payments=Closing balance\text{Opening} + \text{Additions} - \text{Payments} = \text{Closing balance}Opening+Additions−Payments=Closing balance
Cash sales+Credit sales\text{Cash sales} + \text{Credit sales}Cash sales+Credit sales
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