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Create a Profit and Loss Account for Sony Distributors, including adjustments for service revenue, commission earned, and depreciation on buildings.
Accounting
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TP 5: Sony Distributors
a) Profit and Loss Account
Step 1: Calculate adjusted revenues and expenses.
- Service Revenue: Rs. 161,000 (from trial balance)
- Commission Earned: The unearned commission in the trial balance is Rs. 6,000. Additional information (i) states Rs. 4,500 was earned.
- Commission Revenue = Rs. 4,500
- Depreciation on Building: Building value is Rs. 45,000. Additional information (ii) states 10%
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