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Please prepare balance sheet and income statement for 31st of December 2017 using the trial balance presented below, ensuring that you make all the requested

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Please prepare balance sheet and income statement for 31st of December 2017 using the trial balance presented below, ensuring that you make all the requested adjustments.

Adjustments To Be Made (to be made by you)

1) Closing stock was 200,000 on the 31st of December 2017

2) Depreciation:

a) Delivery van - 20%

b) Plant and machinery - 5%

d) Tools and equipment - 20%

3) Amortisation:

a) Goodwill - amortised at a cost of 50,000 for the year.

4) Property was revalued from 465,000 to 500,000.

5) Land was purchased for 200,000 in cash.

6) Dividends were distributed to shareholders during the financial year to a value of 250,000 in cash.

7) Tools and equipment - New tools and equipment were purchased at a cost of 15,000 in cash.

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Trial Balance (before adjustments) for Atticus Ltd as at the 31 st of Dec 2017 Sales Freehold Land Property Inventories (at the 1st of January 2017) Tools and equipment Overdraft Purchases Staff Wages Solicitor Fees (for supporting with customer contracts) Accrued Solicitor Fees Bank loan Prodrct Packing Expense Loan Interest Paid Rent Received (additional ofce space) Advertising Costs Delivery van Plant and machinery Corporation Tax Fixtures and Fittings Trade Payables Trade Receivables Goodwill Share Premium Account Share Capital (0.50 nominal) Revenue Reserve ~ Retained Earnings Capital Reserve - Asset Revaluation Pension liability 200,000 30,000 465,000 450. 000 40,000 1 ,700,000 60,000 45,000 355,000 5,000 40,000 344,000 260,000 1 27,000 1 35,000 251 ,700 250,000 4.757.700 3,500,000 35,000 45.000 350,000 70.000 22.700 280,000 300,000 30,000 25,000 1 00,000 4.757.700

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