Prepare a statement of profit or loss and other comprehensive income( year ending 31 march 2023) , and a statement of financial position as at 31 march 2023 for the Batliss Plc

  
 
 
 

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Bayliss Plc is a manufacturer of high-quality sporting goods and was established in 2016. The following trial balance was drafted for the year ended 31 March 2023: 000 Revenue Dividends Received Cost of Sales Distribution Costs Administrative Expenses Finance Costs Interim Dividend Paid Land at Cost 31/3/2022 Buildings at Cost 31/3/2022 Plant and Machinery at cost 31/03/2022 Furniture and Fittings Leasehold Building Accumulated Depreciation at 31/03/2022: - - Buildings Plant and Machinery Furniture and Fittings Long Term Investments Inventory at 31/03/2023 Trade Receivables/ Trade Payables Bank 10% Loan Note (Redeemable 2027) Deferred Tax Equity Shares of 50p each fully paid Retained Earnings at 1/4/2022 Share Premium 78,250 12,000 4,500 150 100 10,000 10,500 8,500 4,000 7,500 2,550 8,000 4,500 000 128,000 130 2,400 2,000 800 2,750 420 3,000 800 5,000 3,250 2,000 150,550 150,550 Bayliss Plc is a manufacturer of high-quality sporting goods and was established in 2016. The following trial balance was drafted for the year ended 31 March 2023: 000 Revenue Dividends Received Cost of Sales Distribution Costs Administrative Expenses Finance Costs Interim Dividend Paid Land at Cost 31/3/2022 Buildings at Cost 31/3/2022 Plant and Machinery at cost 31/03/2022 Furniture and Fittings Leasehold Building Accumulated Depreciation at 31/03/2022: - - Buildings Plant and Machinery Furniture and Fittings Long Term Investments Inventory at 31/03/2023 Trade Receivables/ Trade Payables Bank 10% Loan Note (Redeemable 2027) Deferred Tax Equity Shares of 50p each fully paid Retained Earnings at 1/4/2022 Share Premium 78,250 12,000 4,500 150 100 10,000 10,500 8,500 4,000 7,500 2,550 8,000 4,500 000 128,000 130 2,400 2,000 800 2,750 420 3,000 800 5,000 3,250 2,000 150,550 150,550

Answer rating: 100% (QA)

Step 1 Prepare a Statement of Profit or Loss and Other Comprehensive Income Revenue 130000 from the trial balance Cost of Sales Cost of Sales excludin... View the full answer