Buttons Limited The following is an extract from the financial statements of Buttons Ltd for the year ended 30 September 2009 Buttons Opening Predam Poland De LO Pro 2 2000 Income 2008 A Honest CA 500 Theo Egy and Egy and Recen Hoc . Care Cinder Further information at 30 September 2009 1. The company had sales of R42 345 600 for the year ended 30 September 2009. Cost of sales amounted to 78% of this amount 2. Property, plant and equipment consists of: 200 3. Land and buildings with a cost of R570 000 was expropriated during the year. New buildings were completed for expansion of operations and taken into use during the year. On 1 October 2008 the land and buildings were re-valued 4. A machine having a cost of R1 700 000 and accumulated depreciation of R1 000 000 was sold during the year. A machine with a cost amount of R810 000 was scrapped. 5. Purchase of equipment was for expansion purposes. Buttons Limited The following is an extract from the financial statements of Buttons Ltd for the year ended 30 September 2009 Buttons Limited Statement of Comprehensive Income for year ended 30 September 2009 R Operating profit 4 657 500 Other operating income 1 700 000 Profit on sale of equipment 300 000 Profit on expropriation of land 1 400 000 Other operating expenses (2 540 000) Depreciation 2 530 000 Loss on scrapping of machinery 10 000 Profit from operations 3 817 500 Investment income - dividends 20 000 Interest on debentures (15 000) Profit before tax 3 822 500 Income tax (1 721 000) Net profit after tax 2 101 500 Buttons Limited Statement of Financial Position as at 30 September 2009 R Assets 2009 Non-current assets 7 450 000 Property, plant and equipment 6 450 000 Investments at costs 1 000 000 Current Assets 7 000 000 Stock 4 000 000 Debtors 2 000 000 Cash and cash equivalents 1 000 000 Total Assets 14 450 000 R 2008 5 850 000 5 100 000 750 000 6 000 000 3 000 000 1 500 000 1 500 000 11 850 000 5 100 000 4 500 000 Equity and liabilities Equity and reserves Issued capital Reserves Retained earings Non-current liabilities Debentures Other interest bearing borrowings Current liabilities Creditors SARS Total equity and liabilities 8 950 000 6 250 000 1 150 000 1 550 000 1 700 000 1 500 000 200 000 3 800 000 2 300 000 1 500 000 14 450 000 600 000 2 550 000 2 500 000 50 000 4 200 000 3 200 000 1 000 000 11 850 000 Further information at 30 September 2009 1. The company had sales of R42 345 600 for the year ended 30 September 2009. Cost of sales amounted to 78% of this amount. 2. Property, plant and equipment consists of: 2009 2008 6 300 000 5 500 000 (4 090 000) (3 500 000) 2210 000 2 000 000 Machinery & equipment Cost Accumulated depreciation Book Value Land & buildings Cost Revalued cost Accumulated depreciation Book Value Total 3 100 000 4 380 000 (140 000) 4 240 000 3 100 000 6 450 000 5 100 000 3. Land and buildings with a cost of R570 000 was expropriated during the year. New buildings were completed for expansion of operations and taken into use during the year. On 1 October 2008 the land and buildings were re-valued. 4. A machine having a cost of R1 700 000 and accumulated depreciation of R1 000 000 was sold during the year. A machine with a cost amount of R810 000 was scrapped. 5. Purchase of equipment was for expansion purposes. Buttons Limited The following is an extract from the financial statements of Buttons Ltd for the year ended 30 September 2009 Buttons Opening Predam Poland De LO Pro 2 2000 Income 2008 A Honest CA 500 Theo Egy and Egy and Recen Hoc . Care Cinder Further information at 30 September 2009 1. The company had sales of R42 345 600 for the year ended 30 September 2009. Cost of sales amounted to 78% of this amount 2. Property, plant and equipment consists of: 200 3. Land and buildings with a cost of R570 000 was expropriated during the year. New buildings were completed for expansion of operations and taken into use during the year. On 1 October 2008 the land and buildings were re-valued 4. A machine having a cost of R1 700 000 and accumulated depreciation of R1 000 000 was sold during the year. A machine with a cost amount of R810 000 was scrapped. 5. Purchase of equipment was for expansion purposes. Buttons Limited The following is an extract from the financial statements of Buttons Ltd for the year ended 30 September 2009 Buttons Limited Statement of Comprehensive Income for year ended 30 September 2009 R Operating profit 4 657 500 Other operating income 1 700 000 Profit on sale of equipment 300 000 Profit on expropriation of land 1 400 000 Other operating expenses (2 540 000) Depreciation 2 530 000 Loss on scrapping of machinery 10 000 Profit from operations 3 817 500 Investment income - dividends 20 000 Interest on debentures (15 000) Profit before tax 3 822 500 Income tax (1 721 000) Net profit after tax 2 101 500 Buttons Limited Statement of Financial Position as at 30 September 2009 R Assets 2009 Non-current assets 7 450 000 Property, plant and equipment 6 450 000 Investments at costs 1 000 000 Current Assets 7 000 000 Stock 4 000 000 Debtors 2 000 000 Cash and cash equivalents 1 000 000 Total Assets 14 450 000 R 2008 5 850 000 5 100 000 750 000 6 000 000 3 000 000 1 500 000 1 500 000 11 850 000 5 100 000 4 500 000 Equity and liabilities Equity and reserves Issued capital Reserves Retained earings Non-current liabilities Debentures Other interest bearing borrowings Current liabilities Creditors SARS Total equity and liabilities 8 950 000 6 250 000 1 150 000 1 550 000 1 700 000 1 500 000 200 000 3 800 000 2 300 000 1 500 000 14 450 000 600 000 2 550 000 2 500 000 50 000 4 200 000 3 200 000 1 000 000 11 850 000 Further information at 30 September 2009 1. The company had sales of R42 345 600 for the year ended 30 September 2009. Cost of sales amounted to 78% of this amount. 2. Property, plant and equipment consists of: 2009 2008 6 300 000 5 500 000 (4 090 000) (3 500 000) 2210 000 2 000 000 Machinery & equipment Cost Accumulated depreciation Book Value Land & buildings Cost Revalued cost Accumulated depreciation Book Value Total 3 100 000 4 380 000 (140 000) 4 240 000 3 100 000 6 450 000 5 100 000 3. Land and buildings with a cost of R570 000 was expropriated during the year. New buildings were completed for expansion of operations and taken into use during the year. On 1 October 2008 the land and buildings were re-valued. 4. A machine having a cost of R1 700 000 and accumulated depreciation of R1 000 000 was sold during the year. A machine with a cost amount of R810 000 was scrapped. 5. Purchase of equipment was for expansion purposes