The adjusted trial balance of Balatbat Ltd as at 30 June 2011 is as follows: Debit Credit $ $
Administration expenses 689,000
Advertising expenses 109,000
Bank loan 216,000
Carrying amount of plant and machinery sold 23,000
Cost of sales 3,421,000
Sales commission expense 45,000
Deposits at call 132,000
Dividends received 43,000
Deferred tax asset 212,000
Ordinary shares, fully paid 3,960,000
General reserve 724,000
Goodwill 742,000
Accounts receivable 1,334,000
Asset revaluation reserve 346,000
Accumulated impairment loss – goodwill 180,000
Accumulated depreciation - Plant & machinery 206,000 Fixtures & fittings 47,000
Retained profits – 1/7/10 800,000
Mortgage loan (secured over land – due 30/9/15) 239,000
Accounts payable 486,000
Current tax liabilities 268,000
GST payable 8,000
Provision for long service leave (only 40% is currently eligible) 265,000
Deferred tax liability 175,000
Allowance for doubtful debts 77,000
Provision for annual leave 62,000
Freehold land (at fair value) 1,724,000
Buildings (at fair value) 900,000
Listed investments – at cost (long-term) 559,000
Plant & machinery - at cost 684,000
Preference shares, fully paid 200,000
Prepayments 30,000
Inventories 2,000,000
Income tax expense 367,000
Final dividend payable 165,000
Fixtures & fittings - at cost 118,000

Cash at bank 483,000
Sales revenue 6,124,000
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