Subject: financial reporting

4. Sundance Co- Statement of Profit or Loss and Other Comprehensive Income Sundance Co, a pharmaccutical manufacturing company, has an authorised share capital of 800,000 ordinary shares of 50c each Balances extracted from the books of account of the company as on the following position: 31 March 2006 showed Rent expenses Heat and light Carriage outwards Bad debts 6,810 15,410 4,810 14,000 9,000 5,160 12,000 14,000 9,980 158,410 36,980 Repairs to plant and equipment Office salaries Directors Salaries-sales 41,000 39,000 51.440 12.000 Bank interest paid Dividends paid Non-current assets at cost-freehold property 1,440,000 810,000 264,000 14,000 Loan interest paid Rents received 28,000 3,320,000 400,000 112,000 Share capital Inventories as at 31 March 2005 You also obtain the following information (I) Frechold property, plant and equipment, and fumiture and fixtures are writien off over periods of 40 years, 4 years and 8 years respectively. None of the assets have been fully depreciated. Depreciation has not been provided for the current year (2) Inventories as at 31 March 2006 have been valued at 176,000 (3) Income tax of 36,000 is to be provided for the year (4) The directors declared a total dividend for the year of Se per ordinary share on 20 April 2006. The financial statements were authorised for issuc on 15 May 2006 Required Prepare the Statement of Profit or Loss and Other Comprehensive Income of Sundance Co for the year ended 31 March 2006, in a form suitable for presentation to members. You do not need to prepare any notes. Tutorial note: Think careinlly aboar classification of expenses in Working I-Cost Classificarion. 4. Sundance Co- Statement of Profit or Loss and Other Comprehensive Income Sundance Co, a pharmaccutical manufacturing company, has an authorised share capital of 800,000 ordinary shares of 50c each Balances extracted from the books of account of the company as on the following position: 31 March 2006 showed Rent expenses Heat and light Carriage outwards Bad debts 6,810 15,410 4,810 14,000 9,000 5,160 12,000 14,000 9,980 158,410 36,980 Repairs to plant and equipment Office salaries Directors Salaries-sales 41,000 39,000 51.440 12.000 Bank interest paid Dividends paid Non-current assets at cost-freehold property 1,440,000 810,000 264,000 14,000 Loan interest paid Rents received 28,000 3,320,000 400,000 112,000 Share capital Inventories as at 31 March 2005 You also obtain the following information (I) Frechold property, plant and equipment, and fumiture and fixtures are writien off over periods of 40 years, 4 years and 8 years respectively. None of the assets have been fully depreciated. Depreciation has not been provided for the current year (2) Inventories as at 31 March 2006 have been valued at 176,000 (3) Income tax of 36,000 is to be provided for the year (4) The directors declared a total dividend for the year of Se per ordinary share on 20 April 2006. The financial statements were authorised for issuc on 15 May 2006 Required Prepare the Statement of Profit or Loss and Other Comprehensive Income of Sundance Co for the year ended 31 March 2006, in a form suitable for presentation to members. You do not need to prepare any notes. Tutorial note: Think careinlly aboar classification of expenses in Working I-Cost Classificarion