Q.2. You are presented with the following information relating to Betty's Inc for the year to 31 March 2018: Bank overdraft 500 Called-up share capital (issued and fully paid) 2,100 Corporation tax (based on the profit for the year to 31 March 2018) 900 Accounts payable 300 Accounts receivable 200 Deferred taxation (credit) 80 Non-current assets: at cost 3,800 accumulated depreciation (at 31 March 2018) 1,400 Non-current asset investments: at cost 100 Retained profits (at 1 April 2017: credit) 1,200 Proposed dividend 420 Retained profit (for the year to 31 March 2018) 585 Share premium account 315 Inventory: at cost (at 31 March 2018) 400 Trade accounts payable 2,000 Trade accounts receivable 5,300 Required: In so far as the information permits, prepare Betty's Inc statement of financial position as at 31 March 2018 in accordance with the minimum requirements of the relevant accounting standards. -888-

Q.2. You are presented with the following information relating to Betty's Inc for the year to 31 March 2018: Bank overdraft 500 Called-up share capital (issued and fully paid) 2,100 Corporation tax (based on the profit for the year to 31 March 2018) 900 Accounts payable 300 Accounts receivable 200 Deferred taxation (credit) 80 Non-current assets: at cost 3,800 accumulated depreciation (at 31 March 2018) 1,400 Non-current asset investments: at cost 100 Retained profits (at 1 April 2017: credit) 1,200 Proposed dividend 420 Retained profit (for the year to 31 March 2018) 585 Share premium account 315 Inventory: at cost (at 31 March 2018) 400 Trade accounts payable 2,000 Trade accounts receivable 5,300 Required: In so far as the information permits, prepare Betty's Inc statement of financial position as at 31 March 2018 in accordance with the minimum requirements of the relevant accounting standards. -888-

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter3: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 55P

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