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Internal Code: MAS1808
Accounting Report Writing Assignment:
Task:
Using the following list of account balances for Hero’s Helpers
1. Classify the accounts into their appropriate elements
2. Indicate whether the account would have a debit or credit balance
3. Prepare a profit and Loss statement
4. Prepare a balance sheet
5. Calculate the following ratio’s
a. Net Profit margin
b. Gross Profit margin o Current ratio
c. Quick ratio
d. Debt to total assets
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