Please assist with this question Tre trial balance of Aldie Limited for the year ended 31 December 20.7 is provided below:Revenueincome(15 000 000)P/LCost of sales10 000 000Marketing expense27 500Delivery expense55 000Dividends paid250 000Dividend income(200 000)Other admin expenses EPIL75 500Interest expense67 500Interest income(7 500)Salaries and wages - admin.250 000Salaries and wages - marketing400 000Depreciation – delivery vehiclesADepreciation – office building ATaxation expense /LA 60¢P125 000200 00022 0002 000 000Cash at bank1 500 000Trade receivables2 000 000Inventories A2 000 000Property, plant and equipment A(865 000)Retained earnings(600 000)Trade payables L(500 000)Borrowings - current(1 500 000)Borrowings - non-current(100 000)Revaluation reserve PL(200 000)Share capital EAdditional information:1.The company issued share capital to the value of R100 000 in the year. Thistransaction has been correctly recorded.2.The revaluation of buildings gave rise to a gain of R25 000. This transaction hasbeen correctly recorded.3.Inventories comprises the following:117 20.720.6R750 000248 000Raw materials1 115 0001 100 000Work in progress135 000150 000Finished goods2 000 0001 498 000TotalRequired:Using the information provided, prepare the following financial statements:Statement of comprehensive income for the year ended 31 December 20.7, usingthe function basis. Administrative expenses include depreciation on the officebuildings. Distribution costs include marketing and delivery-related costs.Statement of comprehensive income for the year ended 31 December 20.7, usingthe nature basis.(1)(ii)(iii)(iv)Statement of changes in equity for the year ended 31 December 20.7.Statement of financial position as at 31 December 20.7.Comparatives are not required.

We are given the trial balance of Aldie Ltd. as on 31st Dec. 2017. Based on which Statement of…

Using the information provided, prepare the following financial statements: (1) Statement of comprehensive income for the year ended 31 December 20.7, using the function basis. Administrative expenses include depreciation on the office buildings. Distribution costs include marketing and delivery-related costs. Statement of comprehensive income for the year ended 31 December 20.7, using the nature basis. (ii)

Using the information provided, prepare the following financial statements: (1) Statement of comprehensive income for the year ended 31 December 20.7, using the function basis. Administrative expenses include depreciation on the office buildings. Distribution costs include marketing and delivery-related costs. Statement of comprehensive income for the year ended 31 December 20.7, using the nature basis. (ii)

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter12: Corporations: Organization, Capital Structure, And Operating Rules

Section: Chapter Questions

Problem 4BCRQ

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