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V 7 The trial balance of Beta shows the following balances at 3 1 December 2 0 2 3 Additional information: ( 1 ) Inventories
V
The trial balance of Beta shows the following balances at December 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
The discounts column in the cash payments book totalled $ and had been posted to the debit of discounts account
There were no disposals of any noncurrent assets during the year. A delivery vehicle was purchased on credit for $ on December No entries have yet been made to record this.
Insurance for delivery vehicles is to accrued as $
Receivables totalling $ are to be written off
During the year the company issued a further shares at $ No entries have yet been made to record this.
Bonus for administration director for is evaluated as of gross profit
General reserve is to be increased by $
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
Do all points please!
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