To complete the following instructions.
The answer has been presented in the supporting sheet. The complete detailed solution has been presented. All the account has been opened and enteries posted and closed as well. Also income statement was prepared to calculate profit and balance sheet has been completed as well. Refer to sheet for further solution.
To complete the following instructions. DIRO TLST-ACEOUNTING The balance sheet of ABC Ltd. on 1t January...
Please help on the to complete session. EXERCISE A The balance sheet of Smile" Ltd. on 1 December contains the following itens: EQUITY & LIABILITIES ASSETS FIXED ASSE 9 700 6 300 | EQUITY 000 Share capital 300 Previous year net pr 8001-Bank credits. angible fixed assets in use Tangible foxed assets under construction Long-term CURRENT ASSETS -Short-term Goods Cash at bank Cash in har 10 60O TOT Additional information: the accumulated depreciation amount: 1 200 USD. 1) previous net...
Required a) Open the accounts and register all of the accounting operations, considering set of costs b) Calculate profit or loss c) Close the accounts and prepare the closing balance sheet as at 28.02 200x. Balance sheet of the company "Gama as at 01.02.200x: ASSETS EQUITY AND LIABILITY Property, plant &equipment100 000 Share capital 100 000 Long-term financial assets 7 500 Trade payables 41 000 Materials 6 500 Trade receivable 7 000 Cash** 20 000 TOTAL ASSETS TOTAL EQUITY AND...
On the 1st January in Year 1, an unlimited liability business called AFB commenced business life. The business deals in buying and reselling useless items. Below is what happened in summary in its first year: 1. On 1 January it started business. Its owners injected £260,000 capital. It also obtained a 5 year bank loan of £150,000 at an annual interest rate of 18%. The total proceeds were placed in the business bank account. 2. Distribution and administration expenses totalled...
You are presented with the following information: Ukunda Ltd. Income Statement for the Year To 31 December 2013 Sh. Sh. Sales 1,000 Less: cost of goods sold Opening stock 200 Purchases 700 900 Less: closing stock 300 600 Gross profit 400 Operating expenses (240) Operating profit 160 Debenture interest (10) Net profit before taxation 150 Taxation (150) Net profit after taxation 100 Dividends (60) Retained profit for the year 40 Ukunda Ltd. Statement of Financial...
Style Limited (Adapted from Dyson p 245, 10.9) | 2018 £ 000 000 2017 £ 000 2017 £000 £000 000 000 1,900 1,500 420 685 Income Statement Sales (all credit) Cost of Goods Sold Opening stock Purchases (all credit) 80 100 2018 £ 000 Statement of Financial Position Fixed Assets (NBV) Current Assets Inventory 250 Trade debtors 850 Bank 1,100 Less : Current Liabilities Bank overdraft Trade creditors 995 100 1,400 1,500 200 375 1,075 Less closing stock 100 Gross...
Please do balance sheet, income statement and cash flow statement for this company. MOZART Company, a limited liability company has a commercial activity It buys and sells books and CDs devoted to the learning of foreign languages The balance sheet at 31 December, N-1 is presented as follows. Balance sheet at 31 December, N (in 000 ) ASSETS SHAREHOLDERS' EQUITY AND LIABILITIES Fixed assets Shareholders' equity Capital Retained earnings Equipment (net value 1000 900 460 Current assets Inventory of GFR...
N1549 - Week Two Exercise - Cashflow Question The accounts of Lolymino Ltd are set out below. They comprise an income statement for the financial year ending 31st December 2013 and balance sheets for the years 2013 and 2012 Income statement for year ended 31st December 2013 £'000 Revenue 12,000 Cost of sales 5.000 Gross profit 7,000 Profit on disposal of equipment 100 Distribution costs 2,500 Administrative costs 1,000 Profit from operations 3,600 Interest paid 204 Profit before tax 3,396...
C1010: Accountng PART C. Comparing balance sheet (7 marks) ABC company and XVZ company conduct the same type of business. Both are recently formed entitles, the balance sheets of the two companies as at 30 June 2020 are as follows: ABC Company Balance sheet Asat 30 June 2020 Assets Current assets Cash at bank 2 400 Accounts recelvable 4 800 Total current assets 7 200 Noncurrent Assets Office equipment land 6 000 18 000 building Total non-current assets 30 000...
Comment on: a) the company's performance for the year to 30 June 2018 b) the limitations of ratio analysis Style Limited (Adapted from Dyson p 245, 10.9) 2018 £ 000 2017 £ 000 2017 000 000 000 000 000 1,900 1,500 420 685 Income Statement Sales (all credit) Cost of Goods Sold Opening stock Purchases (all credit) 80 2018 £ 000 Statement of Financial Position Fixed Assets (NBV) Current Assets Inventory 250 Trade debtors Bank 1,100 Less: Current Liabilities Bank...
Assessment 1 - Part 2 Humbro Ltd Trial Balance as at 31st December 2016 £000 £000 5,500 550 7,500 5,250 1,100 8,000 3,000 1,700 10,000 17,750 4,700 Ordinary Shares of £1 each Ordinary Shares dividend paid Trade Receivables Trade Payables Administration Expenses 10% Debentures Inventory at 1st January 2016 Distribution Costs Purchases Revenue Retained Profit at 1 January 2016 I Land and Buildings at cost Plant and Machinery at cost Fixture and Fittings at cost Commission Received Bank Land and...