IFA - 16 - Paper 1.pdf + O 814 C:/Users/74021/Desktop/IFA%20-... a G Google DogeDoge $512 E ... D ... MA Q2: FINANCIAL ACCOUNTING FOR BUSINESSES (40 marks) a) The following balances (incomplete trial balance) are extracted from the accounts of Carragher Ltd, a media production company, at 31 May 2017: J Carragher Ltd Trial Balance as at 31 May 2017 Debit (6 Credit 689,000 423,000 145,000 81,000 150,000 80,000 28,800 Sales Purchases Plant and Machinery: Cost Plant and Machinery: Accumulated Depreciation at 01-06-16 Freehold Land and Buildings Fixtures and Fittings: Cost Fixtures and Fittings: Accumulated Depreciation at 01-06-16 Inventory at 01-06-16 Motor Expenses Wages Administration Expenses Telephone Expenses Legal Expenses Trade Receivables Trade Payables Rent Bank Balance Bank Loan (repayable on 31-05-20) Shareholder Equity Retained Earnings at 01-06-16 65,000 35,000 98,000 15,000 7500 14,500 27,000 36,000 40,000 7,000 60,000 150,000 48,200 Total 1,100,000 1,100,000 Additional Information The following information was not included in the accounts at year end: a) No depreciation had been charged in the current year. Foctures and Fittings are to be charged at 20% Redu IFA - 16 - Paper 1.pdf + O 814 C:/Users/74021/Desktop/IFA%20-... a G Google DogeDoge $512 E ... D ... MA Q2: FINANCIAL ACCOUNTING FOR BUSINESSES (40 marks) a) The following balances (incomplete trial balance) are extracted from the accounts of Carragher Ltd, a media production company, at 31 May 2017: J Carragher Ltd Trial Balance as at 31 May 2017 Debit (6 Credit 689,000 423,000 145,000 81,000 150,000 80,000 28,800 Sales Purchases Plant and Machinery: Cost Plant and Machinery: Accumulated Depreciation at 01-06-16 Freehold Land and Buildings Fixtures and Fittings: Cost Fixtures and Fittings: Accumulated Depreciation at 01-06-16 Inventory at 01-06-16 Motor Expenses Wages Administration Expenses Telephone Expenses Legal Expenses Trade Receivables Trade Payables Rent Bank Balance Bank Loan (repayable on 31-05-20) Shareholder Equity Retained Earnings at 01-06-16 65,000 35,000 98,000 15,000 7500 14,500 27,000 36,000 40,000 7,000 60,000 150,000 48,200 Total 1,100,000 1,100,000 Additional Information The following information was not included in the accounts at year end: a) No depreciation had been charged in the current year. Foctures and Fittings are to be charged at 20% Redu