The trial balance of Beta shows the following balances at 3 1 December 2 0 2 3
Fantastic news! We've Found the answer you've been seeking!
Question:
The trial balance of Beta shows the following balances at December :
tableDr
Additional information:
Inventories at January were valued at $
Depreciation charges for the year amounting to $ and $ are to be included in distribution costs and administrative expenses, respectively.
The income tax rate is
There were no disposals of any noncurrent assets during the year. Land was revalued at December to $ No entries have yet been made to record this.
Plant and machinery was acquired on credit at December at a cost of $ No entries have yet been made to record this.
Insurance for delivery vehicles is to be accrued as $
Bonus for administration director for is evaluated as of gross profit
General reserve is to be created at $
A customer owing $ has recently been declared bankrupt. The company does not expect to recover any of this.
Allowance for receivables should be created as of net receivables
Required:
Prepare
i general journal for the transactions;
ii ledger accounts showing descriptions and balances;
iii a trial balance;
iv a statement of profit or loss and other comprehensive income for the year ended December
v a statement of changes in equity for the year ended December
vi a statement of financial position at that date
Posted Date: