Only Question 4.

Credit ($) 756,000 Section 3 - Structure based question. Question # 3 The trial balance of Rawson Limited at 30th April is as follows: Name of Account Debit ($) Revenue Purchases 446,000 Inventory at 1 May 2015 32,000 Sales Staff Salaries and commission 83,000 Administration Salaries 57,000 Carriage outwards 24,000 General Expenses 45,000 Interest on debentures 5,000 Goodwill at cost 100,000 Freehold Premises at cost 240,000 Provision for depreciation on freehold premises Delivery vans at cost 75,000 Provision for depreciation of delivery vans Office Machinery at cost 35,000 Provision for depreciation of office machinery Trade receivables 60,000 Trade payables Cash and cash equivalent 66,000 180,000 ordinary shares of $1 each 10% debentures 2023/2025 Share premium account General reserve Retained profit at 1 May 2015 Interim dividends paid on ordinary shares. 4,900 71,000 30,000 10,000 42,000 180,000 100,000 30,000 40,000 13,900 1,272,900 1,272,900 Additional Information: 1. Inventory at 30th April 2016 was $ 54,000. 2. Depreciation for the year ended 30th April 2016 is to be provided as follows: Freehold warehouse $4,000, freehold offices $12,000, delivery vehicles: 20% on cost, office machinery, 20% on cost. 3. Debenture interest is payable half-yearly on 1 May and 1 November. 4. Provision is to be made for taxation on the year's profits in the sum of $25,000. 5. A transfer of $20,000 is to be made to general reserve. 6. The directors have recommended a final dividend on the ordinary shares of 0.50 per share. Required: _(9marks, 3 each for first 3 plus 6 marks for fourth requirement). Prepare Rawson Limited's income statement for the year ended 30th April, 2016. 2. Prepare Statement of Changes in equity for the year ended 30th April, 2016. 3. Prepare Rawson Limited's statement of financial position at 30th April, 2016A. 4. Write a review on the above trial balance and all 3 statements you made. (50 words on each) 1. 6 Credit ($) 756,000 Section 3 - Structure based question. Question # 3 The trial balance of Rawson Limited at 30th April is as follows: Name of Account Debit ($) Revenue Purchases 446,000 Inventory at 1 May 2015 32,000 Sales Staff Salaries and commission 83,000 Administration Salaries 57,000 Carriage outwards 24,000 General Expenses 45,000 Interest on debentures 5,000 Goodwill at cost 100,000 Freehold Premises at cost 240,000 Provision for depreciation on freehold premises Delivery vans at cost 75,000 Provision for depreciation of delivery vans Office Machinery at cost 35,000 Provision for depreciation of office machinery Trade receivables 60,000 Trade payables Cash and cash equivalent 66,000 180,000 ordinary shares of $1 each 10% debentures 2023/2025 Share premium account General reserve Retained profit at 1 May 2015 Interim dividends paid on ordinary shares. 4,900 71,000 30,000 10,000 42,000 180,000 100,000 30,000 40,000 13,900 1,272,900 1,272,900 Additional Information: 1. Inventory at 30th April 2016 was $ 54,000. 2. Depreciation for the year ended 30th April 2016 is to be provided as follows: Freehold warehouse $4,000, freehold offices $12,000, delivery vehicles: 20% on cost, office machinery, 20% on cost. 3. Debenture interest is payable half-yearly on 1 May and 1 November. 4. Provision is to be made for taxation on the year's profits in the sum of $25,000. 5. A transfer of $20,000 is to be made to general reserve. 6. The directors have recommended a final dividend on the ordinary shares of 0.50 per share. Required: _(9marks, 3 each for first 3 plus 6 marks for fourth requirement). Prepare Rawson Limited's income statement for the year ended 30th April, 2016. 2. Prepare Statement of Changes in equity for the year ended 30th April, 2016. 3. Prepare Rawson Limited's statement of financial position at 30th April, 2016A. 4. Write a review on the above trial balance and all 3 statements you made. (50 words on each) 1. 6