Question

Coaltown is a wholesaler and retailer of office furniture. Extracts from the company's financial
statements are set out below:
Profit and loss account for the year ended:
31 March 20X9
1000
Revenue
cash
- Credit
1000
12.800
53,000
Cost of sales
Gross profit
65,800
(43,800)
22,000
(11,200)
Operating expenses
Finance costs
loan notes
overdraft
(380)
(220)
Profit before tax
Income tax expense
Profit for the period
(600)
10,200
(3.200)
7,000
Other comprehensive Income
Gain on property evaluation
Total Comprehensive Income for
5.000
12.000
the year
20X8
1000
£000
Statements of financial position as at 31 March:
20X9
2000
2000
Assets
Non-Current assets notes i, ii)
Cost
93,500
Accumulated depreciation
(43.000)
80,000
(48,000)

Answer 1

Answer:

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