1 The balance sheet of Dandan Pte Ltd at 30 June 2016 was as follows: Dandan...
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1 The balance sheet of Dandan Pte Ltd at 30 June 2016 was as follows: Dandan Pte Ltd Balance sheet at 30 June 2016 $000 Assets Non-current assets (net book value) Land and buildings Plant and machinery 650 150 800 Current assets Stock 75 Debtors 43 118 Total assets 918 Equity and liabilities Capital and reserves Ordinary shares of $1 each Retained profits 450 290 740 Non-current liabilities 5% Debentures (2020) 100 Current liabilities Creditors Bank overdraft 56 22 78 918 Total equity and liabilities 3 The company accountant has produced the following draft cash flow statement for the year ended 30 June 2017. $000 Cash generated from operations Profit (balancing figure) Change in stock Change in debtors Change in creditors Dividends paid Interest paid 132 21 (5) (10) (36) (30) 72 Investing activities Purchase of new machinery Proceeds from sale of old machinery (40) 10 (30) Financing activities Repayment of debenture Issue of ordinary shares at par (1 Dec 2016) (20) 100 80 122 Net increase in cash and bank Bank balance at 30 June 2016 Bank balance at 30 June 2017 (22) 100 He also provided the following information on 30 June 2017 for which adjustments were still required. On 30 September 2016 the company made a bonus issue of one ordinary share for every nine held on 30 June 2016. This was made by a transfer from retained profits. On the same date the directors made a transfer of $100 000 from retained profits to general reserve. 1 The debentures were partly repaid on 1 January 2017. No payment had been made for six months' interest on the remaining debentures. 3. On 31 March 2017 the land and buildings were revalued upwards by $75000. The item of old machinery sold during the year ended 30 June 2017 had cost $24 000 and had been depreciated by $17000. No depreciation had been charged on the remaining machinery. The depreciation charge should have been $47 000. REQUIRED (a) Prepare a statement to show the retained profits at 30 June 2017. [9] (b) Prepare the balance sheet for Dandan Pte Ltd at 30 June 2017. [12] 1 The balance sheet of Dandan Pte Ltd at 30 June 2016 was as follows: Dandan Pte Ltd Balance sheet at 30 June 2016 $000 Assets Non-current assets (net book value) Land and buildings Plant and machinery 650 150 800 Current assets Stock 75 Debtors 43 118 Total assets 918 Equity and liabilities Capital and reserves Ordinary shares of $1 each Retained profits 450 290 740 Non-current liabilities 5% Debentures (2020) 100 Current liabilities Creditors Bank overdraft 56 22 78 918 Total equity and liabilities 3 The company accountant has produced the following draft cash flow statement for the year ended 30 June 2017. $000 Cash generated from operations Profit (balancing figure) Change in stock Change in debtors Change in creditors Dividends paid Interest paid 132 21 (5) (10) (36) (30) 72 Investing activities Purchase of new machinery Proceeds from sale of old machinery (40) 10 (30) Financing activities Repayment of debenture Issue of ordinary shares at par (1 Dec 2016) (20) 100 80 122 Net increase in cash and bank Bank balance at 30 June 2016 Bank balance at 30 June 2017 (22) 100 He also provided the following information on 30 June 2017 for which adjustments were still required. On 30 September 2016 the company made a bonus issue of one ordinary share for every nine held on 30 June 2016. This was made by a transfer from retained profits. On the same date the directors made a transfer of $100 000 from retained profits to general reserve. 1 The debentures were partly repaid on 1 January 2017. No payment had been made for six months' interest on the remaining debentures. 3. On 31 March 2017 the land and buildings were revalued upwards by $75000. The item of old machinery sold during the year ended 30 June 2017 had cost $24 000 and had been depreciated by $17000. No depreciation had been charged on the remaining machinery. The depreciation charge should have been $47 000. REQUIRED (a) Prepare a statement to show the retained profits at 30 June 2017. [9] (b) Prepare the balance sheet for Dandan Pte Ltd at 30 June 2017. [12]
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