A statement of financial position is to be drawn up from the following information as at 30
Question:
A statement of financial position is to be drawn up from the following information as at 30 September 2011:
Transcribed Image Text:
Issued share capital: ordinary shares 1 each Authorised share capital: ordinary shares of 1 each 6 per cent loan notes (repayable 30 September 2015) Buildings at cost Motor vehicles at cost Fixtures at cost Retained profits Non-current assets replacement reserve Inventory Accounts receivable General reserve Accounts payable Depreciation to date: Buildings Motor vehicles Fixtures Bank (balancing figure for you to ascertain) 200,000 500,000 40,000 330,000 74,000 9,200 32,000 30,000 21,400 10,300 50,000 13,700 40,000 41,000 5,100 ?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
To create the Statement of Financial Position also known as the Balance Sheet we need to list the as...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
Question Posted:
Students also viewed these Business questions
-
A balance sheet is to be drawn up from the following information as at 30 September 20X2: Issued share capital: ordinary shares 1 each Authorised share capital: ordinary shares of 1 each 6 per cent...
-
John Dyson is in business trading wholesale in consumer durables. He purchases from reputable suppliers and sells at a price calculated to yield a profit margin of 25% on cost. His accounts are in a...
-
In June of 2014, Bill Madden considered expanding his micro tiles business. He planned to invest $2.0 million in 2016 to produce more and better quality plaster or metal tiles and lithographs. These...
-
Write MATLAB code of the question. Do all parts and show code with comments and also attach a screenshot of code and outputs. Using the results of Problem 4.13, verify the following properties of WN...
-
The Menendez Corporation expects to have sales of $12 million. Costs other than depreciation are expected to be 75 percent of sales, and depreciation is expected to be $1.5 million. All sales...
-
Use the graph of f in the figure to find the following values or state that they do not exist. If a limit does not exist, explain why. a. f(1) b. lim x1- f(x) c. lim x1+ f(x) d. lim x1 f(x) e. f(3)...
-
What are the three basic steps involved in settling a case? How can the paralegal assist the lawyer with each of these steps?
-
Hayes (2000) took a stratified sample of New York City food stores. The sampling frame consisted of 1408 food stores with at least 4000 square feet of retail space. The population of stores was...
-
What is the key problem in the case study Under Armour: Creating and Growing a New Consumer Brand. What are two solutions to the problems. What are advantages and disadvantages.
-
The following balances remained in the ledger of OK Ltd after preparation of the income statement for the year ending 31 March 2012 The directors propose: (i) a transfer to general reserve of 10,000;...
-
Trainsign Ltd has an authorised capital of 500,000, consisting of 350,000 ordinary shares of 1 each and 150,000 7 per cent preference shares of 1 each. Of these, 260,000 ordinary shares and 90,000...
-
Discuss database anomalies and the three categories used to classify anomalies. Which anomaly is caused by data duplication?
-
What four types of financial statements does the annual report typically include?
-
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn. Slander is a spoken, and libel is a written, form of defamation.
-
To what types of risk are investors of foreign bonds exposed?
-
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn. Offshore gambling refers to foreign citizens placing bets in casinos located within the...
-
What is the statement of stockholders equity, and what information does it provide?
-
Smith Software began with cash of $11,000. Smith then bought supplies for $2,400 on account. Separately, Smith paid $5,500 for a computer. Answer these questions. a. How much in total assets does...
-
How does the organizational structure of an MNC influence its strategy implementation?
-
The following trial balance has been extracted from the books of Patt plc as at 31 March 2017: Additional information: 1 Following the preparation of the above trial balance, the following additional...
-
On 1 January 2015 J McFarlane bought a computer (cash price 2,092) from Pear Ltd on the following hire purchase terms. McFarlane was to make an immediate payment of 600 and three annual payments of...
-
A large bakery scrapped all its equipment and replaced it with new equipment purchased on hire purchase over a period of three years, paying 9,980 on 1 January 2016, and further annual payments of...
-
What are the exact percentages for the cost of sales for each year, in regards to the statement Cost of sales are projected to be 45% of revenue in the first year and is expected to grow at the same...
-
On 1 January 2 0 2 1 , Alpha Co , paid 9 0 , 0 0 0 for a controlling interest of 8 0 % in Beta Co's equity when the retained earnings of Beta Co were 2 5 , 0 0 0 . The summarised statement of...
-
Explain the problem with a business using a periodic inventory system that has an Inventory Type Product&Service with an associated cost in QBO. What happens when they put this type of item on an...
Study smarter with the SolutionInn App