Additional information:

(1) Inventories at 1 January 2022 were valued at $12,000.

(2) Work-in-progress at 1 January 2022 was valued at $3,000

(3) Depreciation charges for the year amounting to $7,000 and $2,000 are to be included in distribution costs and administrative expenses, respectively.

(4) The income tax for the year is evaluated as $15,055

(5) A final dividend of $0.50 per share was declared on 31 March 2022.

(6) There were no disposals of any non-current assets during the year. Land was revalued at 31 December 2021 to $100,000. No entries have yet been made to record this.

(7) Receivables totalling $14,000 are to be written off

(8) General reserve is to be created as $2,000

(9) Allowance for receivables should be created as 2.5% of net receivables

(10) Delivery vehicle hire includes prepayment for January-March 2022 totaling $6,000

Required:

Prepare

a) a statement of profit or loss and other comprehensive income for the year ended 31 December 2021,

b) a statement of changes in equity for the year ended 31 December 2021,

c) a statement of financial position at that date,

d) notes, in accordance with IAS 1 Presentation of Financial Statements.

Your answer should be as complete and informative as possible within the limits of the information given to you. An accounting policy note is also required.

V9 The trial balance of Beta shows the following balances at 31 December 2021 ha bagi Sales Keling Wawa Sales Total Additional information: Inventories at 1 January 2002 wete valued at $12.000 Work-in-progress at January 2022 was valued at $3,000 Depreciation charges for the year amounting to $7.000 and $2.000 are to be included in distribution costs and administrative expenses, respectively The income tax for the year is evaluated as $15,055 A final dividend of 0.50 per share was declared on 31 March 2022 There were no disposals of any so-current assets during the year. Land was revalued at 31 December 2021 to $100,000. No entries have yet been made to record this Receivables totalling $14.000 are to be written off General reserve is to be created as $2.000 Allowance for receivables should be created as 2.5% of net receivables Delivery vehicle hire includes prepayment for January March 2022 totaling $6.000 Required: Prepare a) a statement of profit or loss and other comprehensive income for the year ended 31 December 2021. b) a statement of changes in equity for the year ended 31 December 2021. c) a statement of financial position at that date. d) notes, in accordance with IASI Presentation of Financial Statements Your answer should be as complete and informative as possible within the limits of the information given to you. An accounting policy note is als required. 546 V9. The trial balance of Beta shows the following balances at 31 December 2021: Dr Cr S000S000 Issued share capital (500,000 5001 shares) Share premium 201 Finance costs 70 Retained earnings 1 January 2021 Inventory (raw materials) at 1 60 January 2021 Sales 870 Purchases 590 Purchases returns 26 Sales returns 78 Carriage outwards 28 Selling expenses 80 Intangible assets 170 Administrative wages 30 Warehouse plant and equipment cost Accumulated depreciation - 1 301 January 2021 Delivery vehicle hire 20 Distribution expenses 10 Administrative expenses 30 Directors' salaries 30 Sales allowances Investment income 33 Bank overdraft 271 Trade receivables 380 Cash at bank 260 Land 120 2052 2052 95 1