Following is the trial balance for Gold Company as of March 31, 2020 (in ):

Debit Credit

Sales 1,150,000

Inventories at April 1, 2019 75,000

Purchases 465,000

Distribution costs 220,000

Administrative expenses 340,000

Irrecoverable debts expense 36,000

Loan interest paid 8,000

Land and building costs 600,000

Plant and equipment cost 340,000

Accumulated depreciation Land & building at 1 April 2019 96,000

Accumulated depreciation Plant & equipment at 1 April 2019 63,000

Trade receivables 60,000

Allowance for receivables 5,000

Bank overdraft 24,000

Ordinary share ( 1 / share) 400,000

Share premium 100,000

Bank loan 200,000

Retained earnings 61,000

Dividend 15,000

Trade payables 54,000

Advance deposits from customers 6,000

Additional information that has not been accounted for:

1. Gold Company has 2 types of inventory on March 31, 2020 (in ), namely:

Item X Y

Cost 16,200 76,000

Net realizable value 15,000 83,600

2. Gold Company pays an annual insurance premium of 16,800 for

covers the period 1 September 2019-31 August 2020. Payment is entered into

in administrative expense.

3. The company's policy for depreciation is as follows:

Buildings straight line, useful life of 50 years

Plant and equipment 10% straight line

The land cost is 200,000 and all noncurrent assets are assumed to have value

residue 0.

There were no additions or withdrawals for noncurrent assets during the year ended 31

March 2020.

Building depreciation is charged to administrative expenses and plant and depreciation

equipment is charged to the cost of sales.

4. At the end of the year, the trade receivables include the considered balance of 4,800

irrecoverable. The gold company adjusts its allowance for receivables on March 31

2020 as much as 2,760. Gold Company serves irrecoverable debts as other

operating expenses.

5. Bank loan received on July 1, 2019 and can be paid back in 5 years.

Interest 8% per year, fixed rate.

6. The income tax for the year ended 31 March 2020 is estimated at 10,000.

7. Gold Company's products come with a 6-month warranty (warranty). Management

Estimate 5% of the warranty will be utilized at a cost of 15,000 for Gold

Company. Provisions are expensed to other operating expense.

8. Gold Company paid the rent of 25,000 on March 27, 2020

cover 1 April 2020-30 June 2020. This amount is included in

administrative expense.

Requested:

1. Calculate the cost of sales and administrative expense.

2. Compute your other operating expenses and trade receivables.

3. Calculate the finance cost

4. Calculate the carrying amount of property, plant, & equipment

5. Prepare profit or loss statement for Gold Company for the year ended 31

March 2020

6.Prepare retained earning statement for Gold Company for the year ended 31

March 2020

7. Prepare statement of financial position as of March 31, 2020