Harry Ltd was formed in 2003. The following balances as at 28 February 2017 have been extracted
Question:
Harry Ltd was formed in 2003. The following balances as at 28 February 2017 have been extracted from the books of account:
Additional information:
1 Corporation tax owing at 28 February 2017 is estimated to be £24,000.
2 Furniture and equipment are depreciated at an annual rate of 10 per cent of cost and they are all charged against administrative expenses.
3 A dividend of 20p per ordinary share is proposed.
4 All the authorised share capital has been issued and is fully paid.
Required:
Prepare Harry Ltd’s statement of profit or loss and statement of retained earnings for the year to 28 February 2017 and a statement of financial position as at that date.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Accounting For Non-Accounting Students
ISBN: 9781292128979
9th Edition
Authors: John R. Dyson, Ellie Franklin
Question Posted: