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Question 1 (34 marks) The following is the financial information of Locust Ltd Statement of...

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Accounting

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Question 1 (34 marks) The following is the financial information of Locust Ltd Statement of profit or loss for the year ended 30 September, 2018 Sales Cost of goods sold Gross profit Expenses 212,300 (140.900) 71,400 Depreciation expense Increase in bad debts provision Interest expense Other operating expenses (13,430) (120) (1,400) (38,480) Other gains and losses: Gain on sale of plant and machinery Profit before tax Tax expense Profit after tax 720 18,690 3,022) 15,668

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