The following Trial Balance has been extracted from the books of Arran as at 31-Mar-X7: Dr....

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The following Trial Balance has been extracted from the books of Arran as at 31-Mar-X7: Dr. $ 000 Cr. $ 000 Admin expenses Distribution costs Share capital (all ordinary shares of $1 each) Share premium Revaluation reserve Dividend Cash at bank and in hand Receivables Interest paid Dividends received Interest received Land and buildings at cost (land 380, buildings 100) Land and buildings: acc dep Plant and machinery at cost Plant and machinery: acc dep Retained Earning account (at 1-Apr-X6) Purchases Sales Inventory at 1-Apr-X6 Trade payables Bank loan 250 295 27 3 233 25 480 400 1,260 Prepare the SP/L&OCI, SOCIE and SFP for year ended 31-Mar-X7. Note: Show all workings but notes are not required. 140 3,113 Plant & machinery (3) Income tax of 165,000 is to be provided for the year to 31-Mar-X7. (4) Land is to be revalued upwards by 100,000. 270 80 20 15 1 30 170 235 2,165 Add info (1) Inventory at 31-Mar-X7 was valued at a cost of 95,000. Included in this balance were goods that had cost 15,000. These goods had become damaged during the year and it is co (2) Dep for the year to 31-Mar-X7 is to be charged against COGS as follows: Buildings 27 100 3,113 5% on cost (straight line) 30% on CV (reducing balance) The following Trial Balance has been extracted from the books of Arran as at 31-Mar-X7: Dr. $ 000 Cr. $ 000 Admin expenses Distribution costs Share capital (all ordinary shares of $1 each) Share premium Revaluation reserve Dividend Cash at bank and in hand Receivables Interest paid Dividends received Interest received Land and buildings at cost (land 380, buildings 100) Land and buildings: acc dep Plant and machinery at cost Plant and machinery: acc dep Retained Earning account (at 1-Apr-X6) Purchases Sales Inventory at 1-Apr-X6 Trade payables Bank loan 250 295 27 3 233 25 480 400 1,260 Prepare the SP/L&OCI, SOCIE and SFP for year ended 31-Mar-X7. Note: Show all workings but notes are not required. 140 3,113 Plant & machinery (3) Income tax of 165,000 is to be provided for the year to 31-Mar-X7. (4) Land is to be revalued upwards by 100,000. 270 80 20 15 1 30 170 235 2,165 Add info (1) Inventory at 31-Mar-X7 was valued at a cost of 95,000. Included in this balance were goods that had cost 15,000. These goods had become damaged during the year and it is co (2) Dep for the year to 31-Mar-X7 is to be charged against COGS as follows: Buildings 27 100 3,113 5% on cost (straight line) 30% on CV (reducing balance)

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Statement of Profit or Loss and Other Comprehensive Income 000 Revenue 2165 Cost of sales 194... View the full answer