GH6000 GH'000 1,480 1,362 682 4,600 b 372 384 232 990 800 300 30 LALNVULI HII VIII WILLIY VLCHIUSIU JUU Bobby Limited has the following trial balance as at 31 May 2019 Land at cost (note vii) Plantat cost Plant accumulated depreciation 1 June 2018 (notev) Buildings at cost Buildings accumulated depreciation 1 June 2018 (note vil Intangible assets (note vil Bank balance Stock at 1 June 2018 (notei) Retained eamings at 1 June 2018 10% Loan notes Loan interest paid GH1 Ordinary shares Share premium account Dividend paid Revenue Retums inwards Purchases Wages and salaries Insurance (note ii) Electricity expenses (note in Administrative expenses Allowance for receivables 1 June 2018 (note iv) Discounts received Trade payables Trade receivables Director's remuneration 4400 486 155 11,700 217 6.850 1,120 108 542 500 62 590 1,488 1,900 430 20.890 2002 Additional infomation as at 31 May 2019 0 Closing stock was valued at GH465,000 0 There are electricity expenses of GH88,000 outstanding. m) Insurance expenses include GH 14,000 for June and July 2019. () The allowance for receivables is to be increased to 5% of trade receivables. (v) Plantis depreciated at 20% per annum using the reducing balance method. Plant depredation should be apportioned in accordance with note (x) ( Buldings are deprecated at 5% per annum on their original cost Building depreciation should be apportioned in accordance with note (x). (vi) Land is to be valued at GH1,550,000 as from May 2019. Page 1 of 2 (vii) (DE) (x) The intangible assets were purchased on 1 December 2018 and have a useful life of four years from that date. Amortisation should be apportioned in accordance with note() Tax has been calculated as GH 310,000 for the year. The expenses listed above should be apporioned as indicated: Cost of Distrbution Administrative sales costs expenses Discounts received 100% Insurance 50% 50% Electricity expenses 60% 20% 20% Increase in allowance for receivables 100% Wages and salaries 30% 30% Director's remuneration 100% Depreciation Plant 100% Buildings 50% 30% 20% Amortisation of intangible assets 100% - - - - - Required Prepare the flowing financial statements for Bobby Limited in accordance with IAS 1: Presentation of Financial Statements: Statement of comprehensive income for the year ended 31 May 2019 Statement of changes in equity as at 31 May 2019 Statement of financial position as at 31 May 2019. Show all workings