Phoenix Plc Trial Balance At 30 June 20x7 Answer

An extract from the solution is provided in the Appendix at the end of the text for exercises marked with an asterisk . The following trial balance was extracted from the books of Old NV on 31 December 20X1. plant 738 vehicles 375 Rent receivable 100 Trade payables 738 Debentures 250 Issued share capital - ordinary 1 shares 3,125 - preference shares treated as equity 625 Share premium 250 Retained earnings 875 Inventory 825 Purchases 6,263 Returns inwards 350 Carriage inwards 13 Carriage...

Exercises On Income Statement

An extract from the solution is provided in the Appendix at the end of the text for exercises marked with an asterisk . The following are the financial statements of the parent company Swish plc, a subsidiary company Broom and an associate company Handle. Balance sheets as at 31 December 20X3 Balance sheets as at 31 December 20X3 Property plant and equipment at cost Income statement for the year ended 31 Swish acquired 90 of the common shares in Broom on 1 January 20X1 when the balance on the...

Income Statement Exercises

An extract from the solution is provided in the Appendix at the end of the text for exercises marked with an asterisk . Springtime Ltd is a UK trading company buying and selling as wholesalers fashionable summer clothes. The following balances have been extracted from the books as at 31 March 20X4 Income tax based on the accounting profit Overprovision for the year to 31 March 20X3 Delivery expenses including 300,000 overseas Dividends final proposed - to be paid 1 August 20X4 Dividend income...