11.2 The following balances relate to the affairs of Tufton Ltd as at 31 March 20X0 and...

Question:

11.2 The following balances relate to the affairs of Tufton Ltd as at 31 March 20X0 and 20X1.

20X0 20X1

£ £

Share capital 500,000 600,000 Retained profit 395,800 427,100 10% Debentures 200,000 300,000 Creditors 179,800 207,500 Proposed dividends 50,000 60,000 Bank overdraft – 36,900 1,325,600 1,631,500 Plant at cost 658,300 796,900 Less: Depreciation 263,500 371,600 394,800 425,300 Freehold property at cost 300,000 350,000 Stock 327,100 608,300 Debtors 265,700 247,900 Cash at bank 38,000 –

1,325,600 1,631,500 You are given the following information:

(i) During the year to March 20X0, plant with a written-down value of £202,500 was sold for £169,500. This plant had originally cost £390,000.

(ii) A bonus issue of one ordinary share for every five held was made out of retained profit on 1 June 20X0.

A cash flow statement for the year to 31 March 20X1.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction To Accounting

ISBN: 9780761970378

3rd Edition

Authors: Pru Marriott, J R Edwards, Howard J Mellett

Question Posted: