limited companies

Question 1

Limited company income statement

Answer 1

all 2 here
Revenue
Cost of Sales
Gross Profit
Other income

here 1
operating expenses
directors remuneration

here 2
answer
operating profut
finance cost
profit before tax
less tax
profit for year

Question 2

Limited company Statement of Financial Position

Answer 2

Authorised Share capital
ordinary shares (2)
————— —————
Issued Share Capital
ordinary shares (2)

Capital Reserves
Share premium (1)
Revaluation reserve (1)
+
answer (2)

Revenue Reserve
Retained earnings (2)

add rest = total equity