The summarized statement of financial position of Arbalest Ltd at 30 September 20X0 was as follows (internal
Question:
The summarized statement of financial position of Arbalest Ltd at 30 September 20X0 was as follows (internal accountant’s draft copy):
During the year ended 30 September 20X1 the company had the following transactions:
The company depreciation policies are:
Proportionate depreciation is provided in the year of purchase of an asset, with none in the year of disposal.
The retained earnings for the year was £370,000, and the profit for the year was £840,000.
Required
Prepare the following statements and notes in a format that can be included in the published financial statements:
a. Property, plant and equipment note as at 30 September 20X1;
b. Statement of changes in equity for the year ended 30 September 20X1;
c. Statement of other comprehensive income, net of tax for the year ended 30 September 20X1. Ledger accounts for the transactions are not required.
Step by Step Answer:
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas