DFS

PART 1

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Journals

DR Inventories (BS) - CR Inventories (IS) * @ close of business

DR Prepayment

* / by number of months x amount of months in financial year

CR Accrual

DR Interest / Taxation - CR Interest Payable / Taxation Payable * interest on bank loan

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Income Statement

Revenue - * Sales less Returns In

(COS) - * Op Inven + Purch less Ret Out less Clos Inven

Gross Profit

(Dist Costs) - * Dists Costs + Accrual less PP

(Admin Costs)  - * Admin Costs + Accrual less PP

Profit from Ops

(Finance Costs)  - * Fin (Interest) Costs + Accrual less PP (ALWAYS X 2 ACCRUAL SAME AS INTEREST/FIN COSTS)

Profit b4 Tax

(Tax)

Profit for the period

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Statement of Financial Position

ASSETS

Non Curr Assets

Prop, Plant & Equip - * Cost less acc dep

Current Assets

Inventories - * Closing inv

Tr & Other Receiv -* Tr & Rec + PP

Cash & O Cash Equiv

Total Assets

EQUITY & LIAB

Equity

S.Cap -* Off Trial Balance

Ret Earn - * Ret E + Total frm inc state + fin/inter dividend

Total Equity

Non Curr Lib

Bank loan -* Off trial balance

Curr Liab -* Tr & O Payables -* Tr & O Pay + Accr + Interest from Journal + Dist Costs from Journal

Tax Payable

Total Liab

TOTAL EQ & LIAB

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Consolidated Statement of Fin Position

ASSETS

Non Curr Assets

Goodwill - * WORKINGS 1

Prop, Plant & Equip - * ADD BOTH COMPANIES TOGETHER

Current Assets

Inventories -- * ADD BOTH COMPANIES TOGETHER

Tr & Other Receiv - * ADD BOTH COMPANIES TOGETHER LESS INTER COMP SALES

Cash & O Cash Equiv - * ADD BOTH COMPANIES TOGETHER

Total Assets

EQUITY & LIAB

Equity

S.Cap - * HOLDING COMPANY ONLY

S.Prem - * HOLDING COMPANY ONLY

Ret Earn - * WORKINGS 3

Non Cont Int - * WORKINGS 2

Total Equity

Non Curr Lib

Long Term Loans - * ADD BOTH COMPANIES TOGETHER

Curr Liab

Trade & Other Pay - * ADD BOTH COMPANIES TOGETHER LESS INTER COMP SALES

Tax Liabilities - * ADD BOTH COMPANIES TOGETHER

Total Liab

TOTAL EQ & LIAB

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Consolidated Statement of Fin Position - Workings

% holding company = Acquired amt shares

       Share Capital of non cont company

                                       100%            70% Gr            70% Ret E    30% Non Cont

Share Cap (Non cont Co)     £                 £                                              £

Share Prem (Non cont Co)   £                 £                                              £

Rev Reserve(Non cont Co)    £                £                                               £

Post Aq(Non cont Co diff be) £                                            £                   £

Pre Aq(Non,Amt in notes)     £               £                                                £

Total                                   £               £                           £                    £ N.CONT INT W3

Cost of Investment                              - £

Impairment x% by above amt               -£                          -£

Goodwill - WORKING 1                         £

Ret E - WORKING 3                                                          £

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