The following balances have been extracted from the books of account of Owen Ltd at 31 March

Question:

The following balances have been extracted from the books of account of Owen Ltd at 31 March 2015.

Additional information (figures in $000):

• The directors propose to transfer $2000 to a general reserve

• Administration expenses of $120 have been prepaid.

Required

Prepare an income statement and a statement of changes in equity for Owen Ltd for the year ended 31 March 2015.

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Accounting For Cambridge International AS And A Level

ISBN: 9780198399711

1st Edition

Authors: Jacqueline Halls Bryan, Peter Hailstone

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Question Posted: Sep 17, 2021 01:30 AM

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The following balances have been extracted from the books of account of Owen Ltd at 31 March

Question:

Dr ($000) Cr (S000) Administration expenses 3 660 Cost of sales 41 650 Distribution costs 3710 Dividends paid: ordinary shares 1 500 Dividends paid: preference shares 300 General reserve 6 000

Step by Step Answer:

ANSWER Income Statement for the year ended 31 March 2015 Revenue 75100 ...View the full answer

Accounting For Cambridge International AS And A Level

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