Question
The following trial balance was extracted from the nominal ledger of Oberon Ltd on 31 March 2019: Sales 1,150,000 Inventories at 1 April 2018 75,000
The following trial balance was extracted from the nominal ledger of Oberon Ltd on 31 March 2019:
Sales
1,150,000
Inventories at 1 April 2018
75,000
Purchases
465,000
Distribution costs
220,000
Administrative expenses
340,000
Bad debts written off
36,000
Loan interest paid
8,000
Land and buildings cost
600,000
Plant and equipment cost
340,000
Land and buildings accumulated depreciation at 1 April 2018
96,000
Plant and equipment accumulated depreciation at 1 April 2018
63,000
Trade receivables
60,000
Provision for doubtful debts
5,000
Bank balance
24,000
Ordinary share capital (1 shares)
400,000
Share premium
100,000
Bank loan
200,000
Retained earnings
61,000
Ordinary dividends paid
15,000
Trade payables
54,000
Advance deposits from customers
________
6,000
2,159,000
2,159,000
Required:
Ten column work sheet in the form of the following.
Prepare the following financial statements for Oberon Ltd:
(a)
Income statement for the year ended 31 March 2016.
(b)
Statement of financial position as at 31 March 2016.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
