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Formatone plc produced the following trial balance as at 3 0 June 2 0 x 6 : 0 0 0 0 0 0 Land at
Formatone plc produced the following trial balance as at June x: Land at costBuildings at costPlant and equipment at costIntangible assetsAccumulated depreciation X BuildingsPlant and equipmentInterim dividend paid Receivables and payablesCash and bank balanceInventory as at XTaxationDeferred taxDistribution costAdministrative expensesRetained earnings bfSales revenueCost of salesOrdinary shares of pesewas each The following additional information is available:i A revaluation of the Land and Buildings on July X resulted in an increase of in the Land and in the buildings. This has not yet been recorded in the books.ii Plant and equipment are depreciated at using the reducing balance method. Intangible assets are to be written down by iii. Buildings have an estimated life of years from the revaluation date.iv The current tax is estimated at There had been an overprovision in the previous year. Deferred tax is to be increased by v shares were issued and recorded on July X for pesewas each. A further dividend of pesewas per share has been declared on June X Required:Prepare for the year ended June x the statement of comprehensive income, the statement of changes in equity, and the statement of financial position.
Formatone plc produced the following trial balance as at June x: Land at costBuildings at costPlant and equipment at costIntangible assetsAccumulated depreciation X BuildingsPlant and equipmentInterim dividend paid Receivables and payablesCash and bank balanceInventory as at XTaxationDeferred taxDistribution costAdministrative expensesRetained earnings bfSales revenueCost of salesOrdinary shares of pesewas each The following additional information is available:i A revaluation of the Land and Buildings on July X resulted in an increase of in the Land and in the buildings. This has not yet been recorded in the books.ii Plant and equipment are depreciated at using the reducing balance method. Intangible assets are to be written down by iii. Buildings have an estimated life of years from the revaluation date.iv The current tax is estimated at There had been an overprovision in the previous year. Deferred tax is to be increased by v shares were issued and recorded on July X for pesewas each. A further dividend of pesewas per share has been declared on June X Required:Prepare for the year ended June x the statement of comprehensive income, the statement of changes in equity, and the statement of financial position.
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