CLIFTON PHARMA LIMITED Acum ad december 2012 Trale The follow the pain of the year Aby deprecated the chi www.wawili wa The vehicle the real for 2017 traight line method odvole. The state in the pery Oberland is pryby bel All price of you te deel 20 anders were also The problemes in the younger Prepare Alto Trial Balance Sumber Prepare a role for the year Super Mapa CLIFTON PHARMA LIMITED The following trial balmes relates to Clie Pharma Limited be the financial year ended Spa Castell Resal of velike lewe Revenue Lembull prey come week Addition ther? standpunt Sec Remember 2017 Defend teler 2017 Inventory at September 2018 Trole receivables The Stowing informatie is veless for the popust od financial state the yew ended September 2008 The effective whether Arcent review by the finance department of lame the reached the chance print the is fe a furyear periodista and there will be the moments in the bench you. The chick in die gehadir value of 34.000 October 2017 and they night line med ansia. The interesse iplik in the se Other plant and is deprecated per year by the reducing bleem All depictive of property, paddeld be charged The casted perpety 3 ye like and smart toute pe 200 redond the directo wish to spendisse filme The provision for income is for the year ended 10 September 2016 has been estimated 1.00 while weary forces of C.000. There of income to a pie Prepare este Jerks for the periode de Set 18 Prepare Adresse Preparement of Profitar ou for the year ended 30 September 2018 Balmce Shorts September 2016 CLIFTON PHARMA LIMITED The following trial balance relates to Clifton Pharma Limited for the financial year ended 30 September 2018, assume you are working as an Accounts Executive in this Company. Dr. 134.000 35.000 1,500 7,000 338,300 2.000 250,000 197,000 Cost of sales Operating Expenses Lean interest paid (see note 1) Rental of vehicles (see note 2) Revenue Investment income Leasehold property at cost (see note 4) Plant and machinery at cost Accumulated depreciation at 1 October 2017: Leashold property Plant and equipment Investments Share capital Share premium Retained camings at October 2017 Loan notes (see note 1) Deferred tax balance at 1 October 2017 (see note 5) Inventory at 30 September 2018 Trade receivables Trade payables Bank 40.000 47.000 94,000 280,000 20,000 19300 50.000 20.000 23.700 14.100 12,100 830,700 830,700 The following information is relevant for the preparation of financial statements for the year ended 30 September 2018 1) The effective interest rate on the loan notes is 6% per year, 2) A recent review by the finance department of lease contract has reached the conclusion that 7,000 was paid: the lease agreement is for a four-year period in total, and there will be three more annual payments in advance of 7,000 payable on 1 October in cach year. The vehicles in the lease agreement had a fair value of 24,000 at 1 October 2017 and they should be depreciated using the straight line method to a nil residual value. The interest rate implicit in the lease is 10% per year. Other plant and equipment is depreciated at 20% per year by the reducing balance method. All depreciation of property, plant and equipment should be charged to cost of sales. 3) 1) The leashold property has a 25-year life and is amortised at a straight-line rate. On 30 September 2018 the leasehold property was revlaued to 220,000 and the directors wish to incorporate this revaluation in the financial statements 5) The provision for income tax for the year ended 30 September 2018 has been estimated at 18,000. At 30 September 2018 there are tacable temporary differences of 92,000. The rate of income tax on profits is 23% Required: a) b) c) d) Prepare Adjustment Journals for the period ended 30 Septemebr 2018 Prepare Adjusted Trial Balance as on 30 September 2018 Prepare a statement of Profiter Less for the year ended 30 September 2018 Balance Sheet as at 30 September 2018 CLIFTON PHARMA LIMITED Acum ad december 2012 Trale The follow the pain of the year Aby deprecated the chi www.wawili wa The vehicle the real for 2017 traight line method odvole. The state in the pery Oberland is pryby bel All price of you te deel 20 anders were also The problemes in the younger Prepare Alto Trial Balance Sumber Prepare a role for the year Super Mapa CLIFTON PHARMA LIMITED The following trial balmes relates to Clie Pharma Limited be the financial year ended Spa Castell Resal of velike lewe Revenue Lembull prey come week Addition ther? standpunt Sec Remember 2017 Defend teler 2017 Inventory at September 2018 Trole receivables The Stowing informatie is veless for the popust od financial state the yew ended September 2008 The effective whether Arcent review by the finance department of lame the reached the chance print the is fe a furyear periodista and there will be the moments in the bench you. The chick in die gehadir value of 34.000 October 2017 and they night line med ansia. The interesse iplik in the se Other plant and is deprecated per year by the reducing bleem All depictive of property, paddeld be charged The casted perpety 3 ye like and smart toute pe 200 redond the directo wish to spendisse filme The provision for income is for the year ended 10 September 2016 has been estimated 1.00 while weary forces of C.000. There of income to a pie Prepare este Jerks for the periode de Set 18 Prepare Adresse Preparement of Profitar ou for the year ended 30 September 2018 Balmce Shorts September 2016 CLIFTON PHARMA LIMITED The following trial balance relates to Clifton Pharma Limited for the financial year ended 30 September 2018, assume you are working as an Accounts Executive in this Company. Dr. 134.000 35.000 1,500 7,000 338,300 2.000 250,000 197,000 Cost of sales Operating Expenses Lean interest paid (see note 1) Rental of vehicles (see note 2) Revenue Investment income Leasehold property at cost (see note 4) Plant and machinery at cost Accumulated depreciation at 1 October 2017: Leashold property Plant and equipment Investments Share capital Share premium Retained camings at October 2017 Loan notes (see note 1) Deferred tax balance at 1 October 2017 (see note 5) Inventory at 30 September 2018 Trade receivables Trade payables Bank 40.000 47.000 94,000 280,000 20,000 19300 50.000 20.000 23.700 14.100 12,100 830,700 830,700 The following information is relevant for the preparation of financial statements for the year ended 30 September 2018 1) The effective interest rate on the loan notes is 6% per year, 2) A recent review by the finance department of lease contract has reached the conclusion that 7,000 was paid: the lease agreement is for a four-year period in total, and there will be three more annual payments in advance of 7,000 payable on 1 October in cach year. The vehicles in the lease agreement had a fair value of 24,000 at 1 October 2017 and they should be depreciated using the straight line method to a nil residual value. The interest rate implicit in the lease is 10% per year. Other plant and equipment is depreciated at 20% per year by the reducing balance method. All depreciation of property, plant and equipment should be charged to cost of sales. 3) 1) The leashold property has a 25-year life and is amortised at a straight-line rate. On 30 September 2018 the leasehold property was revlaued to 220,000 and the directors wish to incorporate this revaluation in the financial statements 5) The provision for income tax for the year ended 30 September 2018 has been estimated at 18,000. At 30 September 2018 there are tacable temporary differences of 92,000. The rate of income tax on profits is 23% Required: a) b) c) d) Prepare Adjustment Journals for the period ended 30 Septemebr 2018 Prepare Adjusted Trial Balance as on 30 September 2018 Prepare a statement of Profiter Less for the year ended 30 September 2018 Balance Sheet as at 30 September 2018