Accounting Principles Question Paper, Answers and

substantial increase in their credit facilities in order to fund an expansion programme. You are presented with the latest set of abridged accounts below. Knox Limited Profit and Loss Account for the year ended 31 December 2013 2013 2012 £ £ £ £ Turnover 8,030 7,300 Cost of sales 4,818 4,234 Gross profit 3,212 3,066 ................
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