Answered step by step
Verified Expert Solution
Question
1 Approved Answer
L.b) The following balances remained in the ledger of Gayson Limited after the preparation of the income tatement for the year ending 31 March 2015.
L.b) The following balances remained in the ledger of Gayson Limited after the preparation of the income tatement for the year ending 31 March 2015. (15) Inventory Accounts receivable Ordinary share capital Share premium Accounts payable Balance at bank Revaluation reserve Retained earnings Net profit for the year to 31 March 14 Non-current assets at cost, less depreciation Tax liability Long term loan P8,134 P6,468 P8,000 P1,000 P5,601 P579 P2,000 P28.887 P4,377 P44,626 P1,382 P10,000 The directors propose: i) There were no transfers to general reserve ii) Payment of dividends were as follows: Interim dividend P480 and Final dividend for 2014, P960 Required: Prepare a statement of financial position as at 31st March 2015
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started