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Using the information provided, prepare the following financial statements: (1) Statement of comprehensive income for the year ended 31 December 20.7, using the function basis. Administrative expenses include depreciation on the office buildings. Distribution costs include marketing and delivery-related costs. Statement of comprehensive income for the year ended 31 December 20.7, using the nature basis. (ii)

Using the information provided, prepare the following financial statements: (1) Statement of comprehensive income for the year ended 31 December 20.7, using the function basis. Administrative expenses include depreciation on the office buildings. Distribution costs include marketing and delivery-related costs. Statement of comprehensive income for the year ended 31 December 20.7, using the nature basis. (ii)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tre trial balance of Aldie Limited for the year ended 31 December 20.7 is provided below: Revenue income (15 000 000) P/L Cost of sales 10 000 000 Marketing expense 27 500 Delivery expense 55 000 Dividends paid 250 000 Dividend income (200 000) Other admin expenses E PIL 75 500 Interest expense 67 500 Interest income (7 500) Salaries and wages - admin. 250 000 Salaries and wages - marketing 400 000 Depreciation – delivery vehiclesA Depreciation – office building A Taxation expense /L A 60¢P 125 000 200 000 22 000 2 000 000 Cash at bank 1 500 000 Trade receivables 2 000 000 Inventories A 2 000 000 Property, plant and equipment A (865 000) Retained earnings (600 000) Trade payables L (500 000) Borrowings - current (1 500 000) Borrowings - non-current (100 000) Revaluation reserve PL (200 000) Share capital E Additional information: 1. The company issued share capital to the value of R100 000 in the year. This transaction has been correctly recorded. 2. The revaluation of buildings gave rise to a gain of R25 000. This transaction has been correctly recorded. 3. Inventories comprises the following: 117
Transcribed Image Text:Tre trial balance of Aldie Limited for the year ended 31 December 20.7 is provided below: Revenue income (15 000 000) P/L Cost of sales 10 000 000 Marketing expense 27 500 Delivery expense 55 000 Dividends paid 250 000 Dividend income (200 000) Other admin expenses E PIL 75 500 Interest expense 67 500 Interest income (7 500) Salaries and wages - admin. 250 000 Salaries and wages - marketing 400 000 Depreciation – delivery vehiclesA Depreciation – office building A Taxation expense /L A 60¢P 125 000 200 000 22 000 2 000 000 Cash at bank 1 500 000 Trade receivables 2 000 000 Inventories A 2 000 000 Property, plant and equipment A (865 000) Retained earnings (600 000) Trade payables L (500 000) Borrowings - current (1 500 000) Borrowings - non-current (100 000) Revaluation reserve PL (200 000) Share capital E Additional information: 1. The company issued share capital to the value of R100 000 in the year. This transaction has been correctly recorded. 2. The revaluation of buildings gave rise to a gain of R25 000. This transaction has been correctly recorded. 3. Inventories comprises the following: 117
20.7 20.6 R 750 000 248 000 Raw materials 1 115 000 1 100 000 Work in progress 135 000 150 000 Finished goods 2 000 000 1 498 000 Total Required: Using the information provided, prepare the following financial statements: Statement of comprehensive income for the year ended 31 December 20.7, using the function basis. Administrative expenses include depreciation on the office buildings. Distribution costs include marketing and delivery-related costs. Statement of comprehensive income for the year ended 31 December 20.7, using the nature basis. (1) (ii) (iii) (iv) Statement of changes in equity for the year ended 31 December 20.7. Statement of financial position as at 31 December 20.7. Comparatives are not required.
Transcribed Image Text:20.7 20.6 R 750 000 248 000 Raw materials 1 115 000 1 100 000 Work in progress 135 000 150 000 Finished goods 2 000 000 1 498 000 Total Required: Using the information provided, prepare the following financial statements: Statement of comprehensive income for the year ended 31 December 20.7, using the function basis. Administrative expenses include depreciation on the office buildings. Distribution costs include marketing and delivery-related costs. Statement of comprehensive income for the year ended 31 December 20.7, using the nature basis. (1) (ii) (iii) (iv) Statement of changes in equity for the year ended 31 December 20.7. Statement of financial position as at 31 December 20.7. Comparatives are not required.
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Please draw the  Statement of financial position as at 31 December 20.7. Comparatives are not required

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Please draw the Statement of changes in equity for the year ended 31 December 20.7

 

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