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1. An extract of the trail balance of ABC at 30 September 2012 is set out below! Credit ('000) Particulars Debit ('000) 800 Premises at cost Plant and equipment at cost PF,E 460 1600 Motor vehicles at cost 100 PROUGLA Accumulated depreciation at 1/10/2011: Premises 200 lono260 Plant & equipment -BIS Motor vehicles 144 Inventory at 1/10/2011 p Purchases 2317 120 JA Sales of finished goods 2689 Bank 363 Bank deposit account 496 Bank interest 19 Finance costs 20 Preference dividend paid Trade receivables and payables Prepayments and Accruals Administration expenses 10% Loan note (repayment due 2019) Ordinary share capital Irredeemable preference share capital Share premium Retained earnings at 1/10/2011 256 170 27 152 207 200 650 100 250 432 ТОTAL 5195 5195 Notes: 1. Closing inventory at 30 September 2012 was valued at cost of Rs. 94,000. 2. The premises were revalued from a carrying value of Rs. 6,00,000 to Rs. 8,50,000 during the year. 3. Administration expenses included a dividend paid by ABC to its shareholders of Rs. 31,000. 4. The income tax charge on the profit for the year amounted to Rs. 39,000 and had not yet been accounted for. 5. The 10% loan note had been in issue throughout the year ended 30 Sept 2012. Required: a) to prepare the statement of comprehensive income for the year ended 30 September 20X2. b) to prepare the statement of changes in equity for the year ended 30 September 20X2. SOLIE c) to prepare the statement of financial position at 30 September 20X2.

1. An extract of the trail balance of ABC at 30 September 2012 is set out below! Credit ('000) Particulars Debit ('000) 800 Premises at cost Plant and equipment at cost PF,E 460 1600 Motor vehicles at cost 100 PROUGLA Accumulated depreciation at 1/10/2011: Premises 200 lono260 Plant & equipment -BIS Motor vehicles 144 Inventory at 1/10/2011 p Purchases 2317 120 JA Sales of finished goods 2689 Bank 363 Bank deposit account 496 Bank interest 19 Finance costs 20 Preference dividend paid Trade receivables and payables Prepayments and Accruals Administration expenses 10% Loan note (repayment due 2019) Ordinary share capital Irredeemable preference share capital Share premium Retained earnings at 1/10/2011 256 170 27 152 207 200 650 100 250 432 ТОTAL 5195 5195 Notes: 1. Closing inventory at 30 September 2012 was valued at cost of Rs. 94,000. 2. The premises were revalued from a carrying value of Rs. 6,00,000 to Rs. 8,50,000 during the year. 3. Administration expenses included a dividend paid by ABC to its shareholders of Rs. 31,000. 4. The income tax charge on the profit for the year amounted to Rs. 39,000 and had not yet been accounted for. 5. The 10% loan note had been in issue throughout the year ended 30 Sept 2012. Required: a) to prepare the statement of comprehensive income for the year ended 30 September 20X2. b) to prepare the statement of changes in equity for the year ended 30 September 20X2. SOLIE c) to prepare the statement of financial position at 30 September 20X2.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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please solve this question with all steps and workings of notes to account as well following IND AS

1. An extract of the trail balance of ABC at 30 September 2012 is set out below: Debit ('000) Credit ('000) Particulars 800 Premises at cost 460 Plant and equipment at cost P.F,E Motor vehicles at cost Accumulated depreciation at 1/10/2011: Premises 100 000, 200 lowrio 260ls Plant & equipment - B|S Motor vehicles 73 144 loM Inventory at 1/10/2011 op 2317 JA Purchases Sales of finished goods 2689 Bank 363 Bank deposit account 496 Bank interest 19 Finance costs 20 Preference dividend paid Trade receivables and payables Prepayments and Accruals Administration expenses 10% Loan note (repayment due 2019) Ordinary share capital Irredeemable preference share capital Share premium Retained earnings at 1/10/2011 1700 152 256 27 207 200 650 100 250 432 TOTAL 5195 5195 0000000 Notes: 1. Closing inventory at 30 September 2012 was valued at cost of Rs. 94,000. 2. The premises were revalued from a carrying value of Rs. 6,00,000 to Rs. 8,50,000 during the year. 3. Administration expenses included a dividend paid by ABC to its shareholders of Rs. 31,000. 4. The income tax charge on the profit for the year amounted to Rs. 39,000 and had not yet been accounted for. 5. The 10% loan note had been in issue throughout the year ended 30 Sept 2012. Required: (a) to prepare the statement of comprehensive income for the year ended 30 September 20X2. (b) to prepare the statement of changes in equity for the year ended 30 September 000 to Rs. 8 50 000 20X2. SOCIE (c) to prepare the statement of financial position at 30 September 20X2.
Transcribed Image Text:1. An extract of the trail balance of ABC at 30 September 2012 is set out below: Debit ('000) Credit ('000) Particulars 800 Premises at cost 460 Plant and equipment at cost P.F,E Motor vehicles at cost Accumulated depreciation at 1/10/2011: Premises 100 000, 200 lowrio 260ls Plant & equipment - B|S Motor vehicles 73 144 loM Inventory at 1/10/2011 op 2317 JA Purchases Sales of finished goods 2689 Bank 363 Bank deposit account 496 Bank interest 19 Finance costs 20 Preference dividend paid Trade receivables and payables Prepayments and Accruals Administration expenses 10% Loan note (repayment due 2019) Ordinary share capital Irredeemable preference share capital Share premium Retained earnings at 1/10/2011 1700 152 256 27 207 200 650 100 250 432 TOTAL 5195 5195 0000000 Notes: 1. Closing inventory at 30 September 2012 was valued at cost of Rs. 94,000. 2. The premises were revalued from a carrying value of Rs. 6,00,000 to Rs. 8,50,000 during the year. 3. Administration expenses included a dividend paid by ABC to its shareholders of Rs. 31,000. 4. The income tax charge on the profit for the year amounted to Rs. 39,000 and had not yet been accounted for. 5. The 10% loan note had been in issue throughout the year ended 30 Sept 2012. Required: (a) to prepare the statement of comprehensive income for the year ended 30 September 20X2. (b) to prepare the statement of changes in equity for the year ended 30 September 000 to Rs. 8 50 000 20X2. SOCIE (c) to prepare the statement of financial position at 30 September 20X2.
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