Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question Three The following trial balance relates to HIS GLORY LTD, a quoted company at 31 December 2007 DR CR GH GH Land and buildings
Question Three The following trial balance relates to HIS GLORY LTD, a quoted company at 31 December 2007 DR CR GH GH Land and buildings (1/1/07) 130.000 Plant at cost 128,000 32.000 Depreciation of plant (1/1/07) Investments 26,500 Cost of sales 89,200 Investment income 2,200 Distribution costs 11,000 12,500 Administrative expenses Y Interest on loan paid 800 Inventory 31/12/07 37.900 Current Corporation Tax 400 Trade receivables 35.100 Revenue 180,400 60,000 Ordinary shares (issued at GHe each) Retained earnings (1/1/07) 25,500 2% loan (2005-2010) 80.000 34,700 14,000 Trade payables Revaluation surplus arising from land & building Deferred tax provision (1/1/07) Accruals 11,200 24.000 Bank 6.600 471,000 471.000 Question Three The following trial balance relates to HIS GLORY LTD, a quoted company at 31 December 2007 DR CR GH GH Land and buildings (1/1/07) 130.000 Plant at cost 128,000 32.000 Depreciation of plant (1/1/07) Investments 26,500 Cost of sales 89,200 Investment income 2,200 Distribution costs 11,000 12,500 Administrative expenses Y Interest on loan paid 800 Inventory 31/12/07 37.900 Current Corporation Tax 400 Trade receivables 35.100 Revenue 180,400 60,000 Ordinary shares (issued at GHe each) Retained earnings (1/1/07) 25,500 2% loan (2005-2010) 80.000 34,700 14,000 Trade payables Revaluation surplus arising from land & building Deferred tax provision (1/1/07) Accruals 11,200 24.000 Bank 6.600 471,000 471.000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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