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The following Information is provided for Lul questions that follow. CASE STUDY INFORMATION: The following information has been extracted from the accounting records of Lubners
The following Information is provided for Lul questions that follow. CASE STUDY INFORMATION: The following information has been extracted from the accounting records of Lubners Limited on 2020. 2019 Dr 2020 Cr 1 728 000 Dr 2910206 584 640 Qu RE th 3.462 964 665 856 311 328 800 064 362 304 832 608 338 688 27 Ordinary share capital Non-current assets inventories Accounts payable Accounts receivable cash Retained earnings ( 1 Jan) Long term Loan Other Current liabilities 932 256 1 057 824 A53542 4 816 512 2340 288 950A 2 530 656 7 776 Total Sales (80% credit sales) Cost of sales (80% credit purchases) Interest income taxation Selling and admin expenses Interest expenses Other expenses 207 009 1 141 344 149 161 263 808 192 159 1 069 056 174 551 274 752 REQUIRED: QUESTION 1 Compile the Statement of Comprehensive Income for the year ended 31 December 2020. (with 2019 comparative figures) QUESTION 2 Compile the Statement of Financial Position as at 31 December 2020. (with 2019 comparative figures)
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