The following trial balance has been extracted from the books of account of Robins plc at 31
Question:
The following trial balance has been extracted from the books of account of Robins plc at 31 March 2015.
Additional information:
• Inventory at 31 March 2015 was valued at $125 000.
• Administration expenses of $4000 have been paid in advance.
• Depreciation is to be provided as follows:
- Freehold property: 2 per cent per annum on a straight-line basis, charged to administration expenses.
- Plant and machinery: 10 per cent per annum on a straight-line basis, charged to cost of sales.
- Motor vehicles: 20 per cent per annum on a reducing-balance basis, charged to distribution expenses.
Required
Prepare the following for Robins plc.
a. An income statement for the year ended 31 March 2015.
b. A statement of changes in equity for the year ended 31 March 2015.
c. A statement of financial position as at 31 March 2015.
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Related Book For
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
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