Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The trial balance for X plc at 31/07/X9 is as follows: Notes to the Tral Balance 1. Depreciation is to be charged on the following
The trial balance for X plc at 31/07/X9 is as follows: Notes to the Tral Balance 1. Depreciation is to be charged on the following basis: a. Buildings - 25 years straight line b. Plant and machinery - 10 years straight line c. Motor vehicles - 25% reducing balance All depreciation is charged to administrative costs. Notes to the Trial Balance 1. Depreciation is to be charged on the following basis: a. Buildings - 25 years straight line b. Plant and machinery - 10 years straight line c. Motor vehicles - 25% reducing balance All depreciation is charged to administrative costs. been damaged. These itams cost 45 but will require repair work costing 29 per liem in order to be saleable for 65. 3. Administrative costs include a payment of 269,000 for premises insurance, which covered the period 1 January 209 to 31 December 209. 4. Trade receivables includes some debts which are now irrecoverable, amounting to E33,000, and therefore X ple wishes to write these debts off. The company also wishes to increase the general provision to 3% of receivables. 5. Interest on the bank loan is payable at 6% in half yearly instaiments. X ple has not yet accounting for the seoond payment of interest on the loan. Requirement: Using the information provided, complete the profit or loss expenses working below. (Roand all calculations to the nearest thousand.) ninus sign where appropriate.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started