The following information relates to Omega Ltd as at 30 June 2018: $000 Trade Debtors 183 Loans
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Question:
The following information relates to Omega Ltd as at 30 June 2018:
$000 | |
Trade Debtors | 183 |
Loans to Directors - repayable on demand | 17 |
Cash at Bank | 138 |
Deposits at Call | 40 |
Inventories | |
Raw Materials at cost | 100 |
Work In Progress at cost | 250 |
Finished Goods at cost | 800 |
Finished Goods at net realisable value | 400 |
Financial Assets - Listed shares at fair value (held for trading) | 246 |
Goodwill at cost | 400 |
Accumulated Impairment - goodwill | - 80 |
Computer Software at cost | 500 |
Accumulated Amortisation - computer software | - 100 |
Deferred Tax Assets | 62 |
GST Payable | 47 |
Trade Creditors | 700 |
Dividend Payable | 646 |
Provision for Long Service Leave (amount due after 12 months, $100,000) | 150 |
Current Tax Payable | 154 |
Deferred Tax Liabilities | 20 |
Allowance for Doubtful Trade Debtors | 18 |
Equity 100,000 Ordinary Shares fully paid | 5,000 |
Equity 8,000,000 Ordinary Shares issued at $0.50, paid to $0.25 | 2,000 |
General Reserve 30/06/2010 | 200 |
Retained Earnings 30/06/2010 | 400 |
Task 6
Prepare the following sections of the balance sheet and required notes in accordance with accounting standards:
- The Current Assets section
- The Non-Current Assets section
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
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