1b Final Accounts of Companies - Stdts

FINAL ACCOUNT OF COMPANIES ILLUSTRATION (MAY 2014 Q3) Asetrapa Ltd is a listed company reporng under IFRS. During the year ended 31 st December December,, !1, the company changed its accounng policy "ith respect to property #aluaon. $here are also a number o% other issues that need to be &nali'ed be%ore be%ore the &nancial statement statement can be published.

Asetrapa Ltd(s trial balance %rom the general ledger at 31 st December,  December, !1 sho"ed the %ollo"ing balances) GH¢'m

Re#enue

GH¢'m

,*+.!!

Loan note interest interest paid

3.!!

-urchases

1,**.!!

Distribuon cost

/1+.!!

Administra#e Administra#e e0penses

3+/.!!

Interim di#idend paid

*.!!

In#entories at 1st anuary, !1

+++.!!

$rade $rade recei#able

/+/.!!

$rade $rade payable

+3+.!! +3+.! !

2ash and cash eui#alent

.!!

Stated capital 4ordinary shares issued at /!p5

1!!.!!

2apital surplus

31+.!!

Retained earnings at 1st anuary, anuary, !1

+.!!

+6 loan note repayable !1 4issued !1!5

1 / ! .! !

Land and buildings) cost 4i 4including 78 7821!m land5

3!.!!

Accumulated depreciaon at 1st anuary, anuary, !1 -lant and euipment) cost

*+.!! /.!!

Accumulated depreciaon at 1st anuary, anuary, !1 In#estment In#estment property at 1st anuary, anuary, !1

1*.!! /+.!!

Rental income

+.!!

-roceeds %rom sale o% euipment

9 .! ! 4,74000

4,74000

Further in%ormaon to be ta:en into account) 4a5 2losing in#entories in#entories "ere counted and amounted amounted to 7823m at cost. 8o"e#er, 8o"e#er, shortly a;er the year end out