Question

n Aar Pot AEEEEE År i yt -DA- ASE Аавьссо| Аавьсср АаВЫС Аа E 1 Question 1 Consider the following data being taken out of the trial balance of GPA Ltd. as at 31 March 2017: Dr Cr Ordinary shares of $5 each 520,000 Preference shares of $1 each 10,000 8% debentures 84,000 General reserve 89.700 Retained profits 145.623 Motor vehicles at cost 175,000 Machinery at cost 196,000 Accumulated depreciation - vehicles 109,500 Accumulated depreciation - machinery 127,800 Stock at 31 March 2016 94,403 Debtors 225,640 Creditors 91,661 Cash at bank 566,662 Purchases 222,820 Sales 630,260 Wages & salaries 73,740 General expenses 84,608 Directors' remuneration 30364 Rent and rates 100,807 Debenture interest 2.8 Sol Interim dividend paid - Ordinary shares 9,400 Interim dividend paid -10% Preference shares 500 Insurance 25.7201 Total 1.808,544 1,808,544

Answer 1

Answer: To depreciation (whicle) = 17 5000X10%. 317500 To depreciation (machine) = 196000X10%. = 19600 Trading profit and loss account 31st Mareb .2017 Particulos Amount particulars. Amount To opening stock 94403 by sales 630260 To purchase 322.820 by closing stock 54200 To gross proft 689460 689460 372237 33340 Bygross profit 343237 2880 9400 To wages and salaries 70 Debenture Preterest To interin dividend Cardinary shares) To depreciation (uchicken) Te depreciation (machine) To interim dividend (101.04 preferonayshores) To general Expenses 132.500 196.00 500 84608

Amount Particulars Amount 30364 Darlicados To directors venumeration To rent and rates accerned To insurance Ja0801 5680 85120 Prepaid 69800) 65uo. Toºn.com ofery Expense It Tonet profit 4648 37227 339037 1698 comprehensive income statement Net income Gaan on sale de equipment Campuchensive income 6240 10438 S20000 statement of changes on seputy Common stock. Gencral resone (new) Retained Earnings not income Total charhaldurs equity. 90000 145623 10938 766561

5) Goin on sale by Equipment, c. 21560-15320 = 6240 ☺ =443600–28280 = 15300, statement - Sinencial position. 31st march paolt - Assets. 566662 285640 Current assets cash Debtor 'பப்படி Pacepaid insurance Forced Cerent assets. 59200 9800 861302 175000 fixed assets: motor schick Depreciation nic depreciation. 12.500 109500 48000 machinary 196000 19600 Depreciation ALC Depreciaton Toled fixed assets 127800 48600 96600 Tolal assets - 957902

Liability and owners Equity Curycat liability : credifois Alexuld rates Totel cuncal liabilities 41661 5680 99341 + Long term liabilities : 81. Debertura 84000 Total liability 18.1344 520000 1000.0 owners Equity Common stock Preference shares Glencia re some Retained profits total owners Equity 90000 156561 726561 Total liability and comess Equiley 95790)