Assume that you are working as an Accounts Officer for 1 year and now of the end of financial year 2018 The Management of Alpine Limited want to asses their financial perfornance during the year ended June 2013 and have asked you to prepare Profit & Loss and the Balance Sheet for the year then ended. You cme across the following information after the examination of the following records Trial Balance As of June 2011 GBP GBP 7 . Sales Stock July 2017 Purchases Manufacturing expenses Selling and marketing expenses Administrative expenses Factory building costat July 2017 Machines - cost of July 2017 Factory building. G umulated depreciation of July 2011 Machines. accumulated depreciation at July 2017 Advance income tax Debtors Cash and bank Creditors Share Capital Retained earnings 1 July 2017 Depreciation on factory building and machines are provided on reducing balance method 1 and 15 per annum respectively sos depreciation on factory building and 100% depreciation on machines are charged to cost of sales. The balance depreciation is charged to administrative expenses. On 31 May 2016 a fully depreciated machine was sold for 3.0. The sale proceeds were received on July 2016 No entries have been made in respect of these transactions ! Debtors include an amount 10.00 owed by a customer who experienced cash flow problems prior to the year end. The company has agreed to accepte 18.200 in full and final settlement of the debt Four other debtors aggregating on are required to be written off iv Income tax liabilty for the year ended > June 2010 is estimated areas. On 20 June 2018 an advance of 12.01 was received under a contract for supply of goods in August 2016. The advance was credited to sales vi Closing stock at 10 June 2010 amounted to 114,000. It included stock costing 20,000 whereas the related invoice was booked on July 4, 2018 . in June 2010, a compenror ueveloped a new produce Wien nas urrecreu ine company s y to sell one or ms products Gris normal price Or E 100 per un IT IS vil estimated that to sell the product the company needs to offer a discount of an units of that product were in hand as on 10 June 2011 at a cost of 120 per unit its selling costs are estimated afte per units Assume that you are working as an Accounts Officer for 1 year and now of the end of financial year 2018 The Management of Alpine Limited want to asses their financial perfornance during the year ended June 2013 and have asked you to prepare Profit & Loss and the Balance Sheet for the year then ended. You cme across the following information after the examination of the following records Trial Balance As of June 2011 GBP GBP 7 . Sales Stock July 2017 Purchases Manufacturing expenses Selling and marketing expenses Administrative expenses Factory building costat July 2017 Machines - cost of July 2017 Factory building. G umulated depreciation of July 2011 Machines. accumulated depreciation at July 2017 Advance income tax Debtors Cash and bank Creditors Share Capital Retained earnings 1 July 2017 Depreciation on factory building and machines are provided on reducing balance method 1 and 15 per annum respectively sos depreciation on factory building and 100% depreciation on machines are charged to cost of sales. The balance depreciation is charged to administrative expenses. On 31 May 2016 a fully depreciated machine was sold for 3.0. The sale proceeds were received on July 2016 No entries have been made in respect of these transactions ! Debtors include an amount 10.00 owed by a customer who experienced cash flow problems prior to the year end. The company has agreed to accepte 18.200 in full and final settlement of the debt Four other debtors aggregating on are required to be written off iv Income tax liabilty for the year ended > June 2010 is estimated areas. On 20 June 2018 an advance of 12.01 was received under a contract for supply of goods in August 2016. The advance was credited to sales vi Closing stock at 10 June 2010 amounted to 114,000. It included stock costing 20,000 whereas the related invoice was booked on July 4, 2018 . in June 2010, a compenror ueveloped a new produce Wien nas urrecreu ine company s y to sell one or ms products Gris normal price Or E 100 per un IT IS vil estimated that to sell the product the company needs to offer a discount of an units of that product were in hand as on 10 June 2011 at a cost of 120 per unit its selling costs are estimated afte per units
