Question 1
Jackson and Sons Trial Balance as at 30th November 2016
Additional Information;
You are given the following additional information
a) Closing inventory is £85,000
b) Depreciation has not yet been provided
Equipment 10% reducing balance
Motor vehicles 15% straight line
c) Rent includes a prepayment of £8,000
d) There is an accrual for telephones of £2,100
e) Heat and lighting has been prepaid by £1,000
f) Taxation accrual of £12,000 is to be provided for the year
Required:
a. Adjust the trial balance to take account of the above adjustments.
b. Prepare the Statement of Comprehensive Income (Income Statement)
c. Prepare the statement of Financial Position (Balance Sheet)
Question 2
Choose two of the UK’S largest supermarket chains companies from the list provided (Tesco, Sainsbury’s and Morrisons) and download the companies’ annual reports from their website. Produce the 2013, 2014 and 2015 ratio table for the companies you have chosen from the list above (Profitability, Liquidity and Efficiency ratios as performed in class.) Choose two ratios from each category. Based on these ratios and any other additional information available from the annual reports, compile a report comparing the performance of the companies selected.
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