The following is the trial balance for Scream Ltd. as at its year-end of 31 March 20X7. £ Ordinary Shares of £1 NV each 200,000 50,000 8% Cumulative Preference Shares of £1 NV each Purchases 624,000 Sales 756,200 Stock (Inventory) as at 1 April 20X6 Van Expenses Warehouse Wages Heating and Lighting costs incurred Rates cost incurred 60,240 4,700 17,160 7,300 12,000 Repairs and Maintenance costs incurred Office Salaries 6,480 9,720 Fixtures and Fittings (at Cost) Office Equipment (at Cost) Motor Vans (at Cost) Fixtures and Fittings (Accumulated Depreciation) Office Equipment (Accumulated Depreciation) Motor Vans (Accumulated Depreciation) Discounts Receivable (an income / revenue item) Discounts Payable (an expense) 80,000 9,000 40,000 30,000 2,500 20,000 1,200 2,650 Directors' Fees 6,000 Directors' Salaries 18,000 1,200 Advertising Premises (cost) 150,000 Share Premium 20,000 Interim Dividends (Preference) Interim Dividends (Ordinary) Debtors and Prepayments 2,000 10,000 80,500 Creditors and Accruals 51,200 43,200 Profit and Loss Account 31 March 20X6 Cash at Bank 33,350
The following is the trial balance for Scream Ltd. as at its year-end of 31 March 20X7. £ Ordinary Shares of £1 NV each 200,000 50,000 8% Cumulative Preference Shares of £1 NV each Purchases 624,000 Sales 756,200 Stock (Inventory) as at 1 April 20X6 Van Expenses Warehouse Wages Heating and Lighting costs incurred Rates cost incurred 60,240 4,700 17,160 7,300 12,000 Repairs and Maintenance costs incurred Office Salaries 6,480 9,720 Fixtures and Fittings (at Cost) Office Equipment (at Cost) Motor Vans (at Cost) Fixtures and Fittings (Accumulated Depreciation) Office Equipment (Accumulated Depreciation) Motor Vans (Accumulated Depreciation) Discounts Receivable (an income / revenue item) Discounts Payable (an expense) 80,000 9,000 40,000 30,000 2,500 20,000 1,200 2,650 Directors' Fees 6,000 Directors' Salaries 18,000 1,200 Advertising Premises (cost) 150,000 Share Premium 20,000 Interim Dividends (Preference) Interim Dividends (Ordinary) Debtors and Prepayments 2,000 10,000 80,500 Creditors and Accruals 51,200 43,200 Profit and Loss Account 31 March 20X6 Cash at Bank 33,350
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.5P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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