The following information relates to Omega Ltd as at 30 June 2018:

	$000
Trade Debtors	183
Loans to Directors - repayable on demand	17
Cash at Bank	138
Deposits at Call	40
Inventories
Raw Materials at cost	100
Work In Progress at cost	250
Finished Goods at cost	800
Finished Goods at net realisable value	400
Financial Assets - Listed shares at fair value (held for trading)	246
Goodwill at cost	400
Accumulated Impairment - goodwill	-    80
Computer Software at cost	500
Accumulated Amortisation - computer software	-  100
Deferred Tax Assets	62
GST Payable	47
Trade Creditors	700
Dividend Payable	646
Provision for Long Service Leave (amount due after 12 months, $100,000)	150
Current Tax Payable	154
Deferred Tax Liabilities	20
Allowance for Doubtful Trade Debtors	18
Equity 100,000 Ordinary Shares fully paid	5,000
Equity 8,000,000 Ordinary Shares issued at $0.50, paid to $0.25	2,000
General Reserve 30/06/2010	200
Retained Earnings 30/06/2010	400

 

Task 6

 

Prepare the following sections of the balance sheet and required notes in accordance with accounting standards:

• The Current Assets section
• The Non-Current Assets section