Illustrative Example: Retailer Ltd: Preparation of financialstatements
Retailer Ltd, recorded the following transactions during theyear:
Rm
Sales :57,959
Other non-current assets : 6,304
Cost of sales :55,033
Trade and other receivables: 1,607
Trade and other payables: 8,568
Administration expenses :1,860
Loans (due after one year) :10,711
Loans (due within one year): 2,826
Other current liabilities :7,901
Property, plant and equipment: 17,978
Goodwill :2,874
Finance income :29
Other current assets: 4,246
Cash :3,082
Share capital and premium :5,502
Pension liabilities :3,175
Finance costs :693
Taxation cost: 49
Inventories :2,430
Investments (long term) :1,920
Investments (short term) :3,463
Taxation payable: 419
Other non-current liabilities :1,688
Retained earnings :3,114
Using the information above you are asked to:
2. Prepare a balance sheet at the end of the year and calculatenet assets (assets less liabilities) and equity
