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CASE STUDY INFORMATION: The following information has been extracted from the accounting records of Lubners Limited on 31 December 2020. 2020 2019 Dr Cr Dr
CASE STUDY INFORMATION: The following information has been extracted from the accounting records of Lubners Limited on 31 December 2020. 2020 2019 Dr Cr Dr Cr 1 728 000 1 728 000 2910206 3 462 964 665 856 584 640 311 328 290 304 Ordinary share capital Non-current assets inventories Accounts payable Accounts receivable cash Retained earnings ( 1 Jan) Long term Loan Other Current liabilities 832 608 338 688 800 064 362 304 932 256 1 057 824 244 276 1 090 944 809 568 4 816 512 4 535 424 2 530 656 2 340 288 7776 9 504 Total Sales (80% credit sales) Cost of sales (80% credit purchases) Interest income taxation Selling and admin expenses Interest expenses Other expenses 207 009 1 141 344 149 161 263 808 192 159 1 069 056 174 551 274 752 REQUIRED: (25) QUESTION 1 Compile the Statement of Comprehensive Income for the year ended 31 December 2020. (with 2019 comparative figures) (25) QUESTION 2 Compile the Statement of Financial Position as at 31 December 2020. (with 2019 comparative figures)
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