Решение задач «The trial balance of Beta shows the following balances at 31 December...»,
Международный финансовый учет в Казани

The trial balance of Beta shows the following balances at 31 December 2023: Dr Cr $000 $000 Issued share capital (500,000 shares, $1 par value) 500 Share premium 20 Finance costs 70 Retained earnings 1 January 2023 124 Inventory (raw materials) at 1 January 2023 60 Revenue 1092 Purchases 590 Purchases returns 26 Sales returns 28 Carriage outwards 28 Work-in-progress at 1 January 2023 80 Intangible assets 190 Administrative wages 30 Warehouse plant and equipment – cost 92 Accumulated depreciation – 1 January 2023 50 Delivery vehicle hire 20 Distribution expenses 10 Administrative expenses 30 Directors’ salaries 30 Sales allowances 45 Investment income 61 Bank overdraft 40 Trade receivables 380 Cash at bank 110 Land 120 1913 1913 Additional information: (1) Inventories at 1 January 2024 were valued at $10,000. (2) Work-in-progress at 1 January 2024 was valued at $20,000 (3) Depreciation charges for the year amounting to $27,000 and $5,000 are to be included in distribution costs and administrative expenses, respectively. (4) The income tax rate is 20%. (5) Land was revalued at 31 December 2023 to $100,000. No entries have yet been made to record this. (6) Insurance for delivery vehicles is to be accrued $1,000. (7) Receivables totalling $30,000 are to be written off (8) General reserve is to be created at $2,000 (9) Allowance for receivables should be created as 2% of net receivables (10) Sale of plant (carrying value was $180,000) for $190,000 had been credited to sales Required: Prepare (i) general journal for the transactions; (ii) ledger accounts showing descriptions and balances; (iii) a trial balance; (iv) a statement of profit or loss and other comprehensive income for the year ended 31 December 2023, (v) a statement of changes in equity for the year ended 31 December 2023, (vi) a statement of financial position at that date