The Trial Balance of Bouquet as at 31 December 2014 is as follows: Revenue Purchases Inventory...

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The Trial Balance of Bouquet as at 31 December 2014 is as follows: Revenue Purchases Inventory at 1 January 2014 General and administration expenses Selling and distribution expenses Non-current assets cost Non-current assets accumulated depreciation Share capital and reserves Trade receivables Bank Trade payables Long-term loans 10,120 Debit £ 35,480 8,440 5,270 92,740 4,900 1,200 10,400 3,310 156,950 Credit £ 79,410 58,630 4,000 156,950 The following information is also available: 1. Inventory at 31 December 2014 is £7,650. 2. Depreciation at the rate of 20% reducing balance is provided on all non-current assets. 3. Adjustments for accruals and prepayments as at 31 December 2014 are required as follows; accruals £320 and prepayments £540. 4. A bad debt expense of £300 has not been accounted for in the above trial balance. 5. Tax for the year ended 31 December 2014 amounted to £310. Required: (a) Prepare the Statement of Comprehensive Income for Bouquet for the year ended 31 December 2014. (b) Prepare the Statement of Financial Position for Bouquet as at 31 December 2014. The Trial Balance of Bouquet as at 31 December 2014 is as follows: Revenue Purchases Inventory at 1 January 2014 General and administration expenses Selling and distribution expenses Non-current assets cost Non-current assets accumulated depreciation Share capital and reserves Trade receivables Bank Trade payables Long-term loans 10,120 Debit £ 35,480 8,440 5,270 92,740 4,900 1,200 10,400 3,310 156,950 Credit £ 79,410 58,630 4,000 156,950 The following information is also available: 1. Inventory at 31 December 2014 is £7,650. 2. Depreciation at the rate of 20% reducing balance is provided on all non-current assets. 3. Adjustments for accruals and prepayments as at 31 December 2014 are required as follows; accruals £320 and prepayments £540. 4. A bad debt expense of £300 has not been accounted for in the above trial balance. 5. Tax for the year ended 31 December 2014 amounted to £310. Required: (a) Prepare the Statement of Comprehensive Income for Bouquet for the year ended 31 December 2014. (b) Prepare the Statement of Financial Position for Bouquet as at 31 December 2014.

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