The following is the Trial Balance for Gothica Ltd as at 31 December 2009. Debit ...

 

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The following is the Trial Balance for Gothica Ltd as at 31 December 2009. Debit € Credit € 375,000 112,500 22,500 Freehold Land Buildings at cost Buildings - accumulated depreciation Vehicles at cost Vehicles accumulated depreciation 10% Debentures (repayable 2020) Inventory as at 1 January 2009 Sales Purchases Debtors Bad Debt Provision Creditors Bank Wages Directors Remuneration Carriage Outwards Debenture Interest - Sundry Expenses Telephone Charges Rent Share Capital Issued: ordinary shares €1 each Retained Earnings as at 31 December 2008 General Reserve You are given the following information: i. Inventory at 31 December 2009 is €37,388. Provision for depreciation ii. 111. iv. V. vi. (b) 33,825 169,200 67,088 Sundry expenses owing were €350 49,065 9,667 4,230 3,750 3,375 1,932 3,510 855,642 16,875 Rent prepaid €510 Provision for bad debts to be increased to €1,000 4,500 37,500 337,500 713 53,730 7,946 5% Straight Line on Buildings 20% Reducing Balance on Vehicles 375,000 14,378 7,500 855,642 Ordinary dividend proposed of 10%. This was proposed after year end and is not included in the above trial balance. Required: Prepare the Income Statement and the Statement of Changes in Equity for the year ended 31 December 2009. Prepare the Statement of Financial Position (Balance Sheet) as at 31 December 2009. The following is the Trial Balance for Gothica Ltd as at 31 December 2009. Debit € Credit € 375,000 112,500 22,500 Freehold Land Buildings at cost Buildings - accumulated depreciation Vehicles at cost Vehicles accumulated depreciation 10% Debentures (repayable 2020) Inventory as at 1 January 2009 Sales Purchases Debtors Bad Debt Provision Creditors Bank Wages Directors Remuneration Carriage Outwards Debenture Interest - Sundry Expenses Telephone Charges Rent Share Capital Issued: ordinary shares €1 each Retained Earnings as at 31 December 2008 General Reserve You are given the following information: i. Inventory at 31 December 2009 is €37,388. Provision for depreciation ii. 111. iv. V. vi. (b) 33,825 169,200 67,088 Sundry expenses owing were €350 49,065 9,667 4,230 3,750 3,375 1,932 3,510 855,642 16,875 Rent prepaid €510 Provision for bad debts to be increased to €1,000 4,500 37,500 337,500 713 53,730 7,946 5% Straight Line on Buildings 20% Reducing Balance on Vehicles 375,000 14,378 7,500 855,642 Ordinary dividend proposed of 10%. This was proposed after year end and is not included in the above trial balance. Required: Prepare the Income Statement and the Statement of Changes in Equity for the year ended 31 December 2009. Prepare the Statement of Financial Position (Balance Sheet) as at 31 December 2009.