Horsa Ltd's Balance Sheet at 31 July 2003 was as follows. An extract from Horsa Ltd's Profit
Question:
Horsa Ltd's Balance Sheet at 31 July 2003 was as follows.
An extract from Horsa Ltd's Profit and Loss Account for the year ended 31 July 2004 and the cash flow statement for that year are as follows.
Required
Prepare Horsa Ltd's Balance Sheet at 31 July 2004 in as much detail as possible.
Transcribed Image Text:
Tangible fixed assets Freehold premises Plant and machinery Current assets Stock Debtors Cash at bank Creditors: amounts due within one year Trade creditors Dividends (ordinary) Share capital and reserves Ordinary shares of $1 t At cost Tove Mic $000 300 125 10% Preference shares of $1 Share Premium Creditors: amounts due after more than one year 10% debenture stock 2003/2006 General Reserve Profit and Loss Account 43 18 Depn $000 130 75 36 79 42 157 61 Net Book Value $000 170 50 220 96 316 50 266 100 50 20 40 56
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To prepare Horsa Ltds Balance Sheet at 31 July 2004 we need to analyze the provided financial data from the Profit and Loss Account the Cash Flow Statement and the previous years Balance Sheet Lets st...View the full answer
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