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Preparation of a Balance Sheet (24 marks)

The summarised general ledger trial balance of Poolrock Ltd, a manufacturing company, includes the following accounts at 30 June 2024.

	Dr		Cr
Cash deposits	$	365 000
Trade debtors		1 240 000
Allowance for doubtful debts			$			72 000
Sundry debtors		350 000
Prepayments		106 000
Sundry loans receivable (current)		25 000
Raw materials on hand		527 000
Finished goods		720 000
Investments in unlisted companies		45 000
Land (at cost)		470 000
Buildings (at cost)		885 000
Accumulated depreciation buildings					120 000
Plant and equipment (at cost)		8 460 000
Accumulated depreciation plant and equipment					4 065 000
Goodwill		2 110 000
Brand names		65 000
Patents		30 000
Deferred tax asset		235 000
Trade creditors					1 146 000
Sundry creditors and accruals					720 000
Bank overdraft					180 000
Bank loans					1 426 000
Other loans					820 000
Current tax payable					96 000
Provision for employee benefits					345 000
Dividends payable					120 000
Provision for warranty					35 000
Share capital					3 864 000
Retained earnings					2 624 000
	$	15 633 000	$		15 633 000

Additional information

• Other loans outstanding are repayable within 1 year.
• The investments in unlisted companies are long-term investments.
• Provision for employee benefits includes $185 000 payable within 1 year.
• The bank overdraft is payable on demand and forms part of cash equivalents.
• Provision for warranty is in respect of a 6-month warranty given over certain goods sold.
• Bank loans include amounts repayable within 1 year $620 000.

Required:

Prepare the Balance Sheet of Poolrock Ltd at 30 June 2024 in accordance with AASB 101/IAS 1: Presentation of Financial Statements. You must show all workings to be eligible for full marks

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