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The following extracts are available from Peter Co's Statement of Financial Position Non-current assets Inventory Receivables...
3 Sourton Ltd wishes to forecast its financial performance and position for the forthcoming year. The...
3 Sourton Ltd wishes to forecast its financial performance and position for the forthcoming year. The forecast model used by the company incorporates the following relationships: Sales: non-current assets Non-current assets: current assets Current ratio Acid-test ratio 2:4:1 0-8:1 1.0:1 0-6:1 The sales for the forthcoming year are expected to be $50 million What is the forecast level of inventory to be held at the end of the year? A B C D $60-Om $38-4m $10-4m $6.Om 2 marks 4...
The statement of financial position of a business at the start of the week is as...
The statement of financial position of a business at the start of the week is as follows: £ ASSETS Property 145,000 Furniture and fittings 63,000 Inventories 28,000 Trade receivables 33,000 Total assets 269,000 EQUITY AND LIABILITIES Equity 203,000 Short-term borrowing (bank overdraft) 43,000 Trade payables 23,000 Total equity and liabilities 269,000 During the week the following transactions take place: Sold inventories for £11,000 cash; these inventories had cost £8,000. Sold inventories for £23,000 on credit; these inventories had cost £17,000....
Below are extracts from the statement of profit & loss and statement of financial position of...
Below are extracts from the statement of profit & loss and statement of financial position of a company. Operating profit BWP 70,000 Income from investments 2,000 Finance costs (9,000) Profit before tax 63,000 Tax Charge (22,000) Profit after tax 41,000 Other comprehensive income Revaluation gain 30,000 Total comprehensive income 71,000 Closing Balance (BWP) Opening Balance (BWP) Current assets Inventory 27,000 23,000 Receivables 18,000 25,000 Current liabilities TAdditional Information: i. Depreciation charge for the year was P40,000. ii. P700,000 were the...
Example1 Blair Limited -Statement of Financial Position as at 31 December 2008 2008 2007 ASSETS Non-current...
Example1 Blair Limited -Statement of Financial Position as at 31 December 2008 2008 2007 ASSETS Non-current assets Current assets Inventories Receivables Cash 545,000 410,000 90,000 83,000 45,000 81,000 75,000 64,000 218,000 763,000 220,000 630,000 EQUITY AND LIABILITIES Capital and reserves: $1 ordinary shares Share Premium Account Accumulated profits 150,000 20,000 476,000 646,000 100,000 431,000 531,000 Current liabilities: Trade payables Corporation tax payable 97,000 20,000 69,000 30,000 117,000 763,000 99,000 630,000 Statement of Profit or Loss for the year ended 31...
The statement of financial position of PQR plc at the start of the week is as...
The statement of financial position of PQR plc at the start of the week is as follows: Assets: K’000 Property 145 Furniture and fittings 63 Inventories 28 Trade receivables 33 Total assets 269 Equity and liabilities Equity 203 Bank overdraft 43 Trade payables 23 Total equity and liabilities 269 During the week the following transactions take place: Sold inventories for K11,000 cash, these inventories had cost K8,000. Sold inventories for K23,000 on credit, these inventories had cost K17,000 Received cash...
Q2. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger...
Q2. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp Statement of Financial Position December 31, 2020 Cash$ 90,000 Accounts payable$ 75,000 Accounts receivable (net)52,200 Long-term liabilities110,000 Inventories57,000Shareholders' equity208,500 Investments76,300 Equipment (net)86,000 Patents 32,000 $393,500$393,500 The following additional information is provided: nella hank overdraft of $1,500 has been deducted. Patents 32.000 $393.5005393.500 The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as well,...
The following is the Statement of Profit or Loss and the Statements of Financial Position for...
The following is the Statement of Profit or Loss and the Statements of Financial Position for Nachos Bhd (NB) for the year 2019: Nachos Bhd Statement of Profit or Loss For the year ended 30 September 2019 RM RM Sales 220,000 Cost of sales (98,000) Gross profits 122,000 Selling and distribution costs 25,000 Administrative costs 15,000 Depreciation 2,000 Profit on sale of plant (2,000) (40,000) 82,000 Interest expense (6,000) Investment income 1,000 Gain on sale of investment 2,000 Profit before...
Q2. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger...
Q2. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp Statement of Financial Position December 31, 2020 Cash$ 90,000 Accounts payable$ 75,000 Accounts receivable (net)52,200 Long-term liabilities110,000 Inventories57,000Shareholders' equity208,500 Investments 76,300 Equipment (net)86,000 Patents 32,000 $393,500$393,500 The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as well, a bank overdraft of $1,500 has been deduct 2. The net accounts receivable balance includes: (a)...
Q1. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger...
Q1. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp. Statement of Financial Position December 31, 2020 Cash$ 90,000Accounts payable$ 75,000 Accounts receivable (net)52,200Long-term liabilities110,000 Inventories57,000Shareholders’ equity208,500 Investments76,300 Equipment (net)86,000 Patents 32,000____ $393,500$393,500 The following additional information is provided: 1.“Cash” includes prepaid insurance of $9,400; as well, a bank overdraft of $1,500 has been deducted. 2.The net accounts receivable balance includes: (a) accounts receivable—debit balances $62,000; (b)...
The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December...
The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp. Statement of Financial Position December 31, 2020 Cash$ 90,000Accounts payable$ 75,000 Accounts receivable (net)52,200Long-term liabilities110,000 Inventories57,000Shareholders' equity208,500 Investments76,300 Equipment (net)86,000 Patents 32,000 $393,500$393,500 The following additional information is provided: 1."Cash" includes prepaid insurance of $9,400; as well, a bank overdraft of $1,500 has been deducted. Av The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as...
3 Sourton Ltd wishes to forecast its financial performance and position for the forthcoming year. The forecast model used by the company incorporates the following relationships: Sales: non-current assets Non-current assets: current assets Current ratio Acid-test ratio 2:4:1 0-8:1 1.0:1 0-6:1 The sales for the forthcoming year are expected to be $50 million What is the forecast level of inventory to be held at the end of the year? A B C D $60-Om $38-4m $10-4m $6.Om 2 marks 4...
Example1 Blair Limited -Statement of Financial Position as at 31 December 2008 2008 2007 ASSETS Non-current assets Current assets Inventories Receivables Cash 545,000 410,000 90,000 83,000 45,000 81,000 75,000 64,000 218,000 763,000 220,000 630,000 EQUITY AND LIABILITIES Capital and reserves: $1 ordinary shares Share Premium Account Accumulated profits 150,000 20,000 476,000 646,000 100,000 431,000 531,000 Current liabilities: Trade payables Corporation tax payable 97,000 20,000 69,000 30,000 117,000 763,000 99,000 630,000 Statement of Profit or Loss for the year ended 31...
Q2. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp Statement of Financial Position December 31, 2020 Cash$ 90,000 Accounts payable$ 75,000 Accounts receivable (net)52,200 Long-term liabilities110,000 Inventories57,000Shareholders' equity208,500 Investments76,300 Equipment (net)86,000 Patents 32,000 $393,500$393,500 The following additional information is provided: nella hank overdraft of $1,500 has been deducted. Patents 32.000 $393.5005393.500 The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as well,...
Q2. (25 marks) The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp Statement of Financial Position December 31, 2020 Cash$ 90,000 Accounts payable$ 75,000 Accounts receivable (net)52,200 Long-term liabilities110,000 Inventories57,000Shareholders' equity208,500 Investments 76,300 Equipment (net)86,000 Patents 32,000 $393,500$393,500 The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as well, a bank overdraft of $1,500 has been deduct 2. The net accounts receivable balance includes: (a)...
The following statement of financial position was prepared by the bookkeeper for Badger Corp. at December 31, 2020. Badger Corp. Statement of Financial Position December 31, 2020 Cash$ 90,000Accounts payable$ 75,000 Accounts receivable (net)52,200Long-term liabilities110,000 Inventories57,000Shareholders' equity208,500 Investments76,300 Equipment (net)86,000 Patents 32,000 $393,500$393,500 The following additional information is provided: 1."Cash" includes prepaid insurance of $9,400; as well, a bank overdraft of $1,500 has been deducted. Av The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as...
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