(a)[1]
Calculate the draft profit for the year using the trial balance figures.
(b)[5]
Calculate the corrected profit for the year ended 31 December 2020. Begin with your answer to (a).
(c)[17]
Prepare the statement of financial position at 31 December 2020 after allowing for all relevant information. Use the space on the next page for your workings.
(d)[2]
Explain how your treatment of the bonus issue might have been different if the trial balance had shown a balance of $\$8000$ on a share premium account.