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Prepare an adjusted S of FP for 2 0 2 1 ?taking into account entries that occurred during 2 0 2 1 ! ! ?The

Prepare an adjusted S of FP for 2021 ?taking into account entries that occurred during 2021!! ?The first s of fp only shows figures for 20x0. ?You need to prepare a new one with the help of the table on the right

 


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At 31 December 20X0, the S of FP of ABC plc was as follows: Non-current assets at NBV Current assets Inventory Receivables Cash Total assets Liabilities and equity Current liabilities Bank overdraft Trade payables Taxation Non-current liabilities During the year 20X1 the following occurred: '000 '000 10,000 Sales '000 11,000 500 Purchases 4,000 Rents paid 545 250 Wages paid 3,000 800 1,550 Depreciation 1,000 Directors' fees paid 25 11,550 Increase in inventory 100 Increase in bank overdraft 100 Audit fees paid 10 50 Increase in trade payables 50 450 Increase in trade receivables 50 600 Decrease in cash at bank 500 1,100 Bank interest paid 20 Interest on loan paid 500 5,000 Tax paid 600 6,100 Dividends paid 350 Purchase of non-current assets 2,550 10 per cent unsecured loan stock 20X3 Total liabilities Equity Issued Ordinary Shares of 1 4,000 Reserves 1,450 5,450 Total liabilities and equity 11,550 During 20X2, the directors expect to pay tax of 732,000 on the 20X1 profits.

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