Reference no: EM133109742
Question - kYU Ltd provides you with the following trial balance as at 31/8/200. Figures shs "000"
|
Share capital
|
|
8,000
|
|
Stock
|
8,200
|
|
|
Premises at cost
|
10,500
|
|
|
Furniture and equipment
|
4,000
|
|
|
Accrual depreciation furniture
|
|
800
|
|
Long term loans
|
|
6,000
|
|
Retained earnings
|
|
2,600
|
|
Debtors (receivable)
|
3,200
|
|
|
Creditors (payable)
|
|
4,900
|
|
Cash in hand
|
600
|
|
|
Bank
|
|
1,600
|
|
Sales
|
|
48,500
|
|
Purchases
|
35,000
|
|
|
Wages and salaries of employees
|
5,200
|
|
|
Directors salary
|
1,900
|
|
|
Other selling and distribution expanses
|
1,300
|
|
|
Other administration expanses
|
1,400
|
|
|
Bank and loans interest
|
800
|
|
|
Interim dividend
|
300
|
|
|
72,400
|
72,400
|
Additional information as at 31/8/2001. In "000"
1. The closing stock amounted to shs 10,200
2. Shs 300 administrative expanses apply to the next accounting period.
3. Furniture and equipment are depreciated at 10% of cost.
4. An accrual of 600 is required in selling and distribution.
5. Corporate tax is provided at 30% profit after interest.
6. Transfer shs 200 to general reserve.
7. A final dividend of shs 700 should be provided for.
Required -
1. Make a statement of financial position as at 31/8/2001.
2. Make a statement of comprehensive income for the year ending 31/8/2001.
3. Make a statement of charge in Equity.