Preparation of corporate financial statements and accounting ratios. Analyse the use of financial reports by company’s stakeholders.
Table 1 shows the trial balance for ABC Ltd on 30th June 2023
Table 1: Trial balance at 3th June 2023
£
£
£1 Ordinary share capital
500,000
10% Debentures
200,000
5% Long term bank loan
100,000
Retained profits
150,000
Land and buildings at cost
500,000
Fittings at cost
170,000
Fittings – accumulated depreciation
20,000
Machinery at cost
300,000
Machinery – accumulated depreciation
50,000
Sales
1,300,000
Purchases
900,000
Opening inventory
50,000
Payables
47,000
Receivables
80,000
Rates
60,000
Miscellaneous expenses
24,000
Salaries and wages
140,000
Energy bills
28,000
Audit fee
15,000
Bad debt
5,000
Directors’ remuneration
44,000
Debenture interest
18,000
Interest on Bank loan
5,000
Interim ordinary dividend
5,000
Cash
2,000
Bank
21,000
Totals
2,367,000
2,367,000
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