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The following balances were obtained from the books of Endo Corp. as at December 3 1 , 2 0 2 3 : table [
The following balances were obtained from the books of Endo Corp. as at December :
table$$
Provide for depreciation as follows: Fixtures and fittings straight line,
motor vehicles reducing balance. Depreciation charges should be apportioned
equally between administrative expenses and selling and distribution costs.
ii The insurance paid covers the period April to March
iii. One employee was owed and another employee was overpaid
iv The preference share dividends are to be accounted for in full.
v The following appropriation of the expenses must be made:
Admin Selling & Dist
Wages & salaries
Insurance
Management fees
Directors fees
vi It is estimated that goodwill is impaired by
vii. Corporation tax is estimated at of profit before tax.
viii. Transfer to general reserves.
ix During the year, the firm issued ordinary shares at c each par value is c
per share
Required:
a Prepare the following for Endo Corp for the financial year ending December :
i Statement of Profit or Loss
Statement of changes in equity
iii. Statement of Financial Position.
Calculate the following ratios for Endo Corporation:
i Current ratio
ii Gearing ratio
iii. Debt to Equity ratio
iv Return on capital employed
v Return on shareholders equity
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