Financial Reporting Homework Help

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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 Financial Reporting Homework Help


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STABLER Co Trial Balance as of 31 December 2020
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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