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Sweets Are plc is an Iona-established sweets and confectionery manufacturer. All products are manufactured in the: Accounting Fundamentals Assignment, CU, UK
|University||Conventry University (CU)|
Sweets Are plc is an Iona-established sweets and confectionery manufacturer. All products are manufactured in the, UK. but sales are made worldwide. It is a growing but competitive market. Given below are extracts from their financial statement.
The following balances relate. to Wales plc for the year ended 31″ Member 2021:
The following information is relevant:
- Corporation tax for the year is estimated at £100.000.
- Salesmen are owed a commission of £3,000 in respect of December sales. It will be paid on 31 January 2022 and has not been recorded in the ledger accounts yet.
- Goods valued at £980 were sent to customers on 31St December 2021. Payment is due on 28 February 2022. This has not been recorded in the ledger accounts yet.
- The preference shares should be included within equity.
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