The following trial balance has been extracted from the books of account of Beta Co at 31 March 2021: s00 So00 Administrative expenses Called up share capital (ordinary shares of $1 fully paid) Trade receivables Bank overdraft 210 600 470 Income tax (overprovision in previous year) Provision for retirement benefit costs 80 25 180 Distribution costs 420 560 Non-current asset investments Investment income Plant and equipment 75 At cost 750 Accumulated depreciation (at 31 March 2021) Retained earnings (at 1 April 2020) Purchases Inventories (at 1 April 2020) Trade payables Revenue Interim dividend paid 220 240 960 140 260 1,950 120 3.630 3.630 litional information entories at 31 March 2021 were valued at $ 150,000. quired: o far as the information permits, prepare the company's income statement for the year to 31 March 1, a statement of financial position at that date and a statement of changes in equity.

The following trial balance has been extracted from the books of account of Beta Co at 31 March 2021: s00 So00 Administrative expenses Called up share capital (ordinary shares of $1 fully paid) Trade receivables Bank overdraft 210 600 470 Income tax (overprovision in previous year) Provision for retirement benefit costs 80 25 180 Distribution costs 420 560 Non-current asset investments Investment income Plant and equipment 75 At cost 750 Accumulated depreciation (at 31 March 2021) Retained earnings (at 1 April 2020) Purchases Inventories (at 1 April 2020) Trade payables Revenue Interim dividend paid 220 240 960 140 260 1,950 120 3.630 3.630 litional information entories at 31 March 2021 were valued at $ 150,000. quired: o far as the information permits, prepare the company's income statement for the year to 31 March 1, a statement of financial position at that date and a statement of changes in equity.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following trial balance has been extracted from the books of account of Beta Co at 31 March 2021:
s00
S00
Administrative expenses
210
Called up share capital (ordinary shares of $1 fully paid)
Trade receivables
600
470
Bank overdraft
80
Income tax (overprovision in previous year)
Provision for retirement benefit costs
Distribution costs
Non-current asset investments
Investment income
25
180
420
560
75
Plant and equipment
At cost
750
Accumulated depreciation (at 31 March 2021)
Retained earnings (at 1 April 2020)
Purchases
220
240
960
Inventories (at 1 April 2020)
Trade payables
140
260
Revenue
1,950
Interim dividend paid
120
3.630
3.630
Additional information
Inventories at 31 March 2021 were valued at $ 150,000.
Required:
In so far as the information permits, prepare the company's income statement for the year to 31 March
2021, a statement of financial position at that date and a statement of changes in equity.

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