The Financial Year 2020, Prepare: Statement Of Comprehensive Income 10mks, Statement Of Changes In Equity 5mks: Financial Reporting Assignment, TCD, Ireland
| University | Trinity College Dublin (TCD) |
| Subject | Financial Reporting |
Question 1:
From the following information, for the financial year 2020, prepare:
(I) Statement of Comprehensive Income 10mks
(ii) Statement of Changes in Equity 5mks
(iii) Statement of Financial Position 10mks
(iv) Non-Current Asset note 5mks
| STABLER Co Trial Balance as of 31 December 2020 | ||
| Or C’000. |
Cr C000′ |
|
| 50c ordinary shares (fully paid) | 420 | |
| 5%C1 preference shares (fully paid) | 110 | |
| 10% Debenture | 145 | |
| Retained earnings 01/01/20 | 165 | |
| General reserve 01/01/20 | 120 | |
| Land and buildings 01/01/20 (cost) | 330 | |
| Plant and machinery 01/01/20 (cost) | 680 | |
| Accumulated depreciation | ||
| Buildings 01/01/20 | 28 | |
| Plant and machinery 01/01/20 | 155 | |
| Stock 01/01/20 | 143 | |
| Sales | 1,963 | |
| Purchases | 1,548 | |
| Preference dividend | 8 | |
| Ordinary dividend (interim) | 9 | |
| Loan Interest | 12 | |
| Wages and salaries | 189 | |
| Sales commission | 12 | |
| Light and heat | 10 | |
| Sundry expenses | 75 | |
| Suspense account | 125 | |
| Debtors | 142 | |
| Creditors | 168 | |
| Cash | 241 | |
| 3,399 | 3,399 | |
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