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Detail solution from Q1-Q5. Especially I want to know how 12600 can be calculated for Net Asset. As of 31 December 20X1, the following account
Detail solution from Q1-Q5.
As of 31 December 20X1, the following account balances have been taken from the records of Company, Ltd. (All amounts are in CZK) Share capital: 100000 Cash: 60000 Retained earnings: information missing, please calculate the amount Accounts receivable: 12000 License for producing finished products: 40000 Accounts payable: 17000 Advance payment made: 1000 Machinery and equipment: 40000 Customer refund provision with expected settlement within next accounting period: 1000 Raw materials: 12000 Finished goods: 52000 Accumulated depreciation to Machinery \& Equipment: 12000 Accumulated depreciation to License for producing finished products: 13000 Allowance for doubtful receivables: 700 Long-term loan provided: 30000 Sales: 340000 Distribution expenses: 33000 Cost of sales: 214000 Administrative expenses: 4000 Interest income: 1400 Gain on disposal of non-current asset: 400 Tax expense: 25000 Taxes payable: 3000 Accrued interest revenue (will be received within next accounting period): 3000 1. How much is total non-current assets (net book value) at the end of 201 ? 2. How much is operating profit for 201 ? 3. How much is total tangible assets (net book value) at the end of 201 ? 4. How much is net assets at the end of 201 ? 5. How much are total liabilities at the end of 20x1 Especially I want to know how 12600 can be calculated for Net Asset.
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