1、19.2 MalrightStep 1 classificationAssetBuildings at cost 740Buildings, accumulated depreciation, 1 November 20X6 -60Plant at cost 220Plant, accumulated depreciation, 1 November 20X6 -110Land at cost 235Purchases 1,105Inventory at 1 November 20X6 160Trade receivables 320Allowance for receivables, at
2、1 November 20X6 -102,600LiabilityBank balance 50Trade payables 25010% loan notes 50Equity(with revenue and expense)Revenue 1,800Discounts received 90Wages -180Energy expenses -105Administrative expenses -80Directors remuneration -70Retained earnings at 1 November 20X6 130Dividend paid -30$1 ordinary
3、 shares 650Share premium account 80Returns inwards -352,600Step 2 Depreciation for the yearDeprecation for plantDr CrPPE 22 (f)Cost of sales 22Depreciation for buildingDr CrPPE 37 (g)Cost of sales 11Distribution cost 11Administrative expenses 15Step 3 Allowance for receivableDr CrReceivable 6Adminis
4、trative expenses 6Step 4 InventoryDr CrPurchase 1,105Inventory at 1 November 20X6 160Inventory at 31 October 20X7 75 (a)Cost of sales 1,190Step 5 wagesDr CrWages 180 (b)Cost of sales 72Distribution cost 45Administrative expenses 63Step 6 Energy expensesDr CrEnergy expenses 105 (b)Energy expense accr
5、ual 15 (c)Cost of sales 48Distribution cost 24Administrative expenses 48Step 7 Interest payableDr CrLoan interest payable 5Finance cost 5Step 8 Income taxesDr CrIncome taxes 45Tax payable 45MALRIGHTSTATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 OCTOBER 20X7Revenue 1,765Cost of sales 1,343Gross pr
6、ofit 422Distribution costs 80Administrative expenses 192Profit before interest and tax 150Finance cost 5Profit before taxation 145Income taxes 45Profit for the year 100MALRIGHTSTATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 OCTOBER 20X7Ordinary shares Share premium Retained earningsBalance at 1
7、 Nov 20X6 650 80 130Total comprehensive 100income for the yearDividends paid -30Balance at 31 Oct 20X7 650 80 200MALRIGHTSTATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 20X7Non-current assetsTangible assets 966Current assetsInventory 75Trade receivables 3041,345Equity and liabilitiesEquity$1 ordinary shares 650Share premium 80Retained earnings 200Non-current liabilities10 % loan notes 50Current liabilitiesTrade payables 250Bank overdraft 50Tax payable 45Loan interest payable 5Energy expense accrual 151,345Total860100-30930
