You are also given the following information:
(i) Stock at 30 September 2003 is valued at £7,550. (ii) Interest on the loan at 5% per annum had not been paid at 30 September 2003. (iii) Rent includes £250 paid in advance to 31 December 2003. (iv) Plant and machinery is to be depreciated by 10% per annum. (v) Furniture is to be depreciated by 5% per annum. (vi) The provision for doubtful debts is to be adjusted to £1014.
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