Hollande Engineering Co began operations on 1 January. On 31 December it calculated a gross profit of £144,800. Further

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Hollande Engineering Co Began Operations On 1 January On 31 December It Calculated A Gross Profit Of 144 800 Further 1 (38.41 KiB) Viewed 39 times

Hollande Engineering Co began operations on 1 January. On 31 December it calculated a gross profit of £144,800. Further information relating to the business during its first year of operations is as follows: i(Click here to view the information.) Fill in any missing figures in the table and then calculate: 1. The operating profit for the year. 2. The profit for the year. 3. The total prepayments figure appearing in the statement of financial position at the end of the year. 4. The total accruals/deferred revenue figure appearing in the statement of financial position at the end of the year. (Fill in the relevant cells with its corresponding figures.) Relating to period At end of period Paid/Received Expense/Revenue Prepaid Accruals/Deferred for period revenues £ £ £ Rent payable 17,500 1,800 Repairs and renewals 9,200 Motor running expenses 15,800 Rent receivable 8,000 Interest payable 22,600 1,500 Telephone and postage 9,500 1,200 400 Software subscriptions 1,400 Operating profit = £ Profit for the year = Total prepayments = £ Total accruals/deferred revenues = £ £ 10,300 14,200 5,800