The summarized statement of financial position of Arbalest Ltd at 30 September 20X0 was as follows (internal

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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.

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Introduction To Financial Accounting

ISBN: 9781526803009

9th Edition

Authors: Anne Marie Ward, Andrew Thomas

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