PRESENTATION OF FINANCIAL STATEMENTS (IAS 1)
Question 1
The following trial balance has been extracted from the books of
Tembo Ltd as at 31 December 2019.
K
K
Equity share capital (K1)
270,000
Share Premium
80,000
Revaluation Surplus
20,000
Dividends paid
27,000
Retained earnings at 1 January 2019
235,000
Revenue
2,165,000
Inventory at 1 January 2019
140,000
Purchases
1,260,000
Distribution costs
295,000
Administrative expenses
250,000
Loan interest
25,000
Dividends received
15,000
Interest received
1,000
Receivables and payables
233,000
27,000
Bank...