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ACTIVITY 3.3.9 The Trial Balance taken from the books of Helix Company Ltd as at 30th November 2019 is as follows: Dr ($) Cr (5)
ACTIVITY 3.3.9 The Trial Balance taken from the books of Helix Company Ltd as at 30th November 2019 is as follows: Dr ($) Cr (5) Issued Capital (200 000 @ $2 per share) 400 000 Uncalled Capital (25 cents on 200 000 shares) 50 000 Calls in arrears (25 cents on 2 000 shares) 500 Calls in advance 3 000 Cash at Bank 40 000 Profit and Loss Appropriation (1/12/2018) 25 000 Accounts Receivable 36 000 Provision for Doubtful Debts Inventories (1/12/2018) 63 000 Land 200 000 Government Securities at cost 60 000 2000 52 000 48 000 232 000 40 000 40 000 62 500 70 80 625 400 Accounts Payable 10% Debentures (Due 2025) Plant, Property and Equipment Provision for depreciation - Plant, Property and Equipment Salaries Purchases Purchases Returns Freight and insurance on purchase Audit Fees Interim dividend paid Advertising General Reserve Bad debts Sales Rental Income Discount Allowed 201375 200 2500 14 000 9 000 14 000 500 225 000 1 000 200 810 400 810 400 . Additional Information (30/11/19) Total dividend was declared 7% on paid up capital. Transfer $5 000 to General Reserve. Land was revalued at $240 000. Depreciation on Plant, Property and Equipment $10 000 to be charged. Inventories was valued at $72 000 Income tax to be 20% of the net profit amount. Additional bad debts $500 to be written off. Provision for doubtful debts to be charged at 5% of accounts receivables. Interest on debentures due $4800. . repare . 9 is Required: Use the information to prepare: a. Statement of Financial Performance of Helix Company Ltd for the year ended 30th November 2019. b. Profit and Loss Appropriation Statement of Helix Company Ltd for the year ended 30th November 2019. c. Statement of Financial Position of Helix Company Ltd as at 30th November 2019
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