BUACC 5930, Accounting Concepts and Practices – Dural Trade Ltd
The final accounts of Dural Trade Ltd are provided below: Dural Trade Ltd Balance Sheet (Statement of financial position) as at: 2017 $ 2018 $ Assets Bank 71,760 92,400 Accounts receivable 115,200 131,760 Inventory 130,320 152,520 Investments 108,000 – Land – 122,400 Equipment 396,000 501,200 Accumulated depreciation – equipment (171,360) (204,560) TOTAL ASSETS 649,920 795,720 Liabilities and Shareholders’ Equity Accounts payable 73,200 82,680 Operating expenses accrued 6,000 7,320 Dividend payable 14,400 17,280 Share capital (Ordinary shares @ $2 each) 360,000 432,000 Share premium 17,280 31,680 Retained earnings 179,040 224,760 TOTAL LIABILITIES AND EQUITY 649,920 795,720 Dural Trade Ltd Income statement for the year ended 31st December 2018 $ $ Sales 1,432,800 Less: Cost of sales 850,680 Gross…
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