The following is the trial balance of Oakwood Ltd as at 30 June 20X9:

Additional information
1. Corporation tax of £1,080 will be payable on the profit of this year.
2. Rates include a prepayment of £150.
3. Gas used in May and June 20X9 of £270 is not included in the trial balance.
4. Inventory at 30 June 20X9 was £11,680.
5. The allowance for irrecoverable receivables is to be adjusted to 5 per cent of trade receivables at 30 June 20X9.
6. Annual depreciation on the reducing balance method is 20 per cent of plant, 10 per cent of vehicles and 25 per cent of development costs. The value of goodwill did not fall below the value recorded in the trial balance. The company does not depreciate buildings.
7. Sales revenue includes goods on sale or return at 30 June 20X9 that cost £500 and were invoiced to credit customers at a price of £1,000.
8. Included in plant and machinery are consumable tools purchased during the year at a cost of £300.
9. It is proposed to pay a final dividend on the equity shares of 3.2 pence per share.
10. The directors have decided to transfer £3,000 to the revenue reserve.

Required
Prepare in publishable form a statement of comprehensive income and a statement of changes in equity for the year ended 30 June 20X9, and a statement of financial position at that date.

Transcribed Image Text:

Allotted and called-up capital: 125,000 equity shares 60,000 5% preference shares Freehold buildings at cost Development costs (cost £12,000) Goodwill Delivery vehicles (cost £28,000) Plant and machinery (cost £34,000) Listed investments 10% debentures Share premium Revenue reserve Interim dividend on equity shares Interim dividend on preference shares Allowance for irrecoverable receivables Administrative salaries Irrecoverable receivables Discount allowed/received Purchases/sales revenue Audit fee Preliminary expenses Debit £ 165,000 5,400 8,000 18,700 31,900 3,250 2,000 1,500 6,370 740 290 81,230 390 200 Credit £ 125,000 60,000 20,000 9,000 6,100 730 440 120,640