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Old Saturday, January 21, 2012
KhanSb KhanSb is offline
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Default @ mir usama

In question 2 of paper one, we first have to make adjusting entries, then we have to make closing entries.
Actually part b is to be worked on first for part a.
After that the effect of after closing trial balance is to be showed in income statement, profit/loss effect will be closed in statement of changes in equity or in other words statement of retained earingings, finally the amount of retained earnings will be depicted in balance sheet.

I don't know how to send mathematical solutions online, otherwise I would have surely solved it for you.

Hope you got the line of action from above discription.
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