Solved: Analyze the changes in the profit, Financial Accounting

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Analyze the changes in the profit

Response to the following problem:

The owner of a business is confused, and comes to you for help. The financial statements for the business, prepared by an accountant, for the last accounting period revealed an increase in profit of £50,000. However, during the accounting period the bank balance declined by £30,000. What reasons might explain this apparent discrepancy?

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Financial Accounting: Analyze the changes in the profit

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