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Question: Saldpur Fashions pic produces a range of clothing at its factory. The ciothing is...

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Accounting

Question:
Saldpur Fashions pic produces a range of clothing at its factory. The ciothing is then dellvered to
Saldpur Fashions plc's shops for sale to customers. On 30 June 2018, the following balances
were in the books.
Adjustments and additionai information on 30 June 2018
End inventory on 30 June 2018 was valued at $31,000
Depreclation for the year is to be provided as follows:
Warehouse machinery $8000 and omce machinery $10,000
Maintenance is divided between the factory, distribution, and ofmce in the ratio of 3:2:1
Hire of delivery vans, $6200, is outstanding
Provision is to be made for the payment of dividends as follows:
Preterence alvidend of $600
A corporation tax provision for $17000 is to be made
The interest payments on the Debentures are made at the end of June. The payment for
December 2018 is outstanding
Selling expenses include $2,000 prepaid
Required:
a. Prepare Saldpur Fashions plo statement of Proft or Loss and Comprenensive Income
for the year ended 30 June 2018 with complete work for each cost.
b. Prepare the Statement of Financial Position on 30 June 2018.
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