Earning a Living: 1

The Profit and Loss Account
  • D. E. Turner
  • P. H. Turner


On 1 January 1981, John Haynes started business as a self-employed joiner with machinery worth £5000, tools worth £3000 and cash of £1500. Against this, he owed his sister £2000 on an interest-free long-term loan, repayable as and when convenient.


Balance Sheet Cash Holding Trading Period Accounting Period Loss Account 
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Copyright information

© D. E. Turner and P. H. Turner 1991

Authors and Affiliations

  • D. E. Turner
  • P. H. Turner

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