Prepare the Statement of profit & Loss and other income statement of changes in equity statement of financial position for the year ended 31 march 2023
The following
|
|
UGX 000 |
UGX 000 |
|
Administrative expense |
250 |
|
|
Distribution cost |
295 |
|
|
Share capital (all ordinary shares of UGX 1 each |
|
270 |
|
Share premium |
|
80 |
|
Revaluation reserve |
|
20 |
|
Dividend |
27 |
|
|
Cash at bank and hand |
3 |
|
|
Receivables |
233 |
|
|
Interest paid |
25 |
|
|
Dividend received |
|
15 |
|
Interest received |
|
1 |
|
Land and buildings at cost (land 380, building 100) |
480 |
|
|
Land and building acc. Dep |
|
30 |
|
Plant and machinery |
400 |
|
|
Plant and machinery acc. Dep |
|
170 |
|
|
|
235 |
|
Purchases |
1260 |
|
|
Sales |
|
2165 |
|
Inventory at 1 April 2022 |
140 |
|
|
Trade payables |
|
27 |
|
Bank loan |
|
100 |
|
Total |
3113 |
3113 |
Additional Information
- Inventory at 31st March 2023 was valued at a cost UGX 95000. Include in this balance were goods that had cost UGX 15000. These goods had become damaged during the year and it is considered that following remedial work the goods could be sold for UGX 5000.
- income tax of UGX 165000 is to be provided for the year 31st March 2023
Depreciation for the year ended 31 march 2023 is to be charged against cost of sales as follows;
Buildings 5% on cost (straight line)
Plant and machinery 30% on carrying value (reducing balance)
- Land is to be revalued upwards by UGX 100,000
Prepare the
- Statement of profit & Loss and other income
- statement of changes in equity
- statement of financial position for the year ended 31 march 2023
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