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I need statement of financial position, please do not give the wrong balance amount. ADVANCED 27.21* The following is the trial balance of Oakwood Ltd
I need statement of financial position, please do not give the wrong balance amount.
ADVANCED 27.21* The following is the trial balance of Oakwood Ltd as at 30 June 20x9: Debit Credit 125,000 60,000 165,000 5,400 8,000 18,700 31,900 3,250 Allotted and called-up capital: 125,000 equity shares 60,000 5% preference shares Freehold buildings at cost Development costs (cost 12,000) Goodwill Delivery vehicles (cost 28,000) Plant and machinery (cost 34,000) Listed investments 10% debentures Share premium Revenue reserve Interim dividend on equity shares Interim dividend on preference shares Allowance for irrecoverable receivables Administrative salaries Irrecoverable receivables Discount allowed/received Purchases/sales revenue Audit fee Preliminary expenses 20,000 9,000 6,100 2,000 1,500 730 6,370 740 290 81,230 440 120,640 390 200 Copyrighted mater Exercises 569 610 14,100 230 310 600 Directors' remuneration Returns inwards/outwards Carriage inwards Rates Interest received Retained earnings Light and heat Postage and telephone Inventories Trade receivables/trade payables Bank overdraft 410 7,700 940 870 8,760 10,400 7,890 2,630 361,180 361,180 Additional information 1. Corporation tax of 1,080 will be payable on the profit of this year. 2. Rates include a prepayment of 150. 3. Gas used in May and June 20X9 of 270 is not included in the trial balance. 4. Inventory at 30 June 20x9 was 11,680. 5. The allowance for irrecoverable receivables is to be adjusted to 5 per cent of trade receivables at 30 June 20X9. 6. Annual depreciation on the reducing balance method is 20 per cent of plant, 10 per cent of vehicles and 25 per cent of development costs. The value of goodwill did not fall below the value recorded in the trial balance. The company does not depreciate buildings. 7. Sales revenue includes goods on sale or return at 30 June 20x9 that cost 500 and were invoiced to credit customers at a price of 1,000. 8. Included in plant and machinery are consumable tools purchased during the year at a cost of 300. 9. It is proposed to pay a final dividend on the equity shares of 3.2 pence per share. 10. The directors have decided to transfer 3,000 to the revenue reserve. Required Prepare in publishable form a statement of comprehensive income and a statement of changes in equity for the year ended 30 June 20x9, and a statement of financial position at that dateStep by Step Solution
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