Based on the following graph,
1.prepare the profit and loss acount for the first 6 months of operation XPTO technologies
2.prepare the balance sheet of XPTO technologies at 31st Dec 2020.
XPTO Technologies is a company created in July 2019. In the first six months of operation, they provided the following Balance Sheet ,000 ,000 ,000 150 Fixed assets cost Depreciation 30 120 Current assets Material stock Debtors Prepaid Expenses 50 300 5 355 Current liabilities Dividends Bank Overdraft Accrued expenses Working capital Assets less current liabilities 501 5 121 176 179 299 Share capital Reserves (profit) 200 99 299 Consider the additional information: 1. The company's authorised share capital is 200,000 of 2 ordinary shares. 2. Sales are made with one month's credit. 3. Materials are bought with one month's credit. 4. Dividends for the first months of operation are paid in February 2020. 5. An additional dividend of 70 p per share is proposed for the accounting period between January and June 2020. 6. Three machines worth 50,000 were bought during the first six months of operation. An additional machine was bought in January 2020 and another in April 2020. 7. All Machines depreciate 10,000 every six months. 8. There was no work in progress and no finished goods in stock on the 30th June 2020. 9. Sales from January to June 2020 were 310,000 per month. 10. Materials bought from January to June 2020 were 150,000 per month. 11. Overheads from January to June 2020 were 65,000 per month. 12. Labour costs from January to March 2020 were 50,000 per month, and 80,000 per month for the following three months. 13. On the 30th June 2020 there is a stock of material worth 40,000. XPTO Technologies is a company created in July 2019. In the first six months of operation, they provided the following Balance Sheet ,000 ,000 ,000 150 Fixed assets cost Depreciation 30 120 Current assets Material stock Debtors Prepaid Expenses 50 300 5 355 Current liabilities Dividends Bank Overdraft Accrued expenses Working capital Assets less current liabilities 501 5 121 176 179 299 Share capital Reserves (profit) 200 99 299 Consider the additional information: 1. The company's authorised share capital is 200,000 of 2 ordinary shares. 2. Sales are made with one month's credit. 3. Materials are bought with one month's credit. 4. Dividends for the first months of operation are paid in February 2020. 5. An additional dividend of 70 p per share is proposed for the accounting period between January and June 2020. 6. Three machines worth 50,000 were bought during the first six months of operation. An additional machine was bought in January 2020 and another in April 2020. 7. All Machines depreciate 10,000 every six months. 8. There was no work in progress and no finished goods in stock on the 30th June 2020. 9. Sales from January to June 2020 were 310,000 per month. 10. Materials bought from January to June 2020 were 150,000 per month. 11. Overheads from January to June 2020 were 65,000 per month. 12. Labour costs from January to March 2020 were 50,000 per month, and 80,000 per month for the following three months. 13. On the 30th June 2020 there is a stock of material worth 40,000
