Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following trial balance is presented based on transactions for AutoTech Ltd as at 31 October 20x9: Account Operating expenses Bank overdraft Ordinary shares at

The following trial balance is presented based on transactions for AutoTech Ltd as at 31 October 20x9: Account Operating expenses Bank overdraft Ordinary shares at R1 each 10% preference shares at R1 each Trade and other payables Trade and other receivables Selling and administrative expenses Investments Interest income Furniture and equipment Plant equipment Interim ordinary dividends paid Preference dividends paid Retained profit (1 November 20x8) Purchases Sales Share premium Inventory (1 November 20x8) Total Notes: Required: a) Debit 1 185 000 b) C) 1 395 000 450 000 350 000 30 000 1 500 000 40 000 5 000 4 000 000 1 000 000 9 955 000 Inventory were valued at R1 200 000 as at 31 October 20x9 The estimated taxation for the financial year ended 31 October 20x9 were R265 000 Ordinary dividends payable were proposed for R0,10 per ordinary share Adapted from: Cloete and Marimuthu (2018:116-117) Credit 315 000 400 000 100 000 790 000 60 000 1 500 000 6 600 000 190 000 9 955 000 Prepare a statement of comprehensive income for the month of November 20x9 Prepare a statement of financial position for the month of November 20x9 Prepare a statement of changes in owners equity for the month of November 20x9
image text in transcribed
Notes: - Inventory were valued at R1 200000 as at 31 October 209 - The estmated taxation for the financial year ended 31 October 209 were R265 000 - Ordinary dividends payable were proposed for R0,10 per ordinary share Adapted from: Clete and Marimuthu (2018:116-117) Required: a) Prepare a statement of comprehensive income for the month of November 209 b) Prepare a statement of financial position for the month of November 209 c) Prepare a statement of changes in owners equity for the month of November 209

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

The Functions of Language Problems with Language

Answered: 1 week ago

Question

The Nature of Language

Answered: 1 week ago