E3 fx N PART 2: PREPARING THE FINANCIAL STATEMENTS Thank you for submitting your advice regarding sources of finance Your client has carefully considered your advice in setting up the new business. As you will see below, the client may have acted on all, some or none of your advice. That is the nature of being a consultant. Nevertheless, the client is happy with the advice you offered and seeks further assistance from you As the client looked further into the feasibility of the new business, it soon became clear that there was much more demand than previously realised, and immediate plans were made to increase the size of the operation. This meantraising significant amounts of capital, and it was felt that this would be difficult as a private company. It was therefore decided to set up a public company New Business Name: Rakshith Enterprises Ltd The new business commenced operations on 31 December 2018. It is now over one year later the middle of January 2020. Your client has asked you for assistance in preparing financial statements Your task Prepare the following financial statements, based on the information below. 1. Balance Sheet as at 31 December 2018, 2. Profit and Loss Statement for the year ending 31 December 2015 3. Balance Sheets at 31 December 2013 4. Statement of Cash Flows for the year ending 31 December 2019 Financial information The company was italy set up by king 240,000 shares tan inte price of Stach Afety was purchased at a cost of $550.000 The new factory was largely financed by taking out a $457.000 mortege loan. In additi to the mortgage loan, the company took out a $68.000 interest-only secured bank loan In addition to the factory, the company purchased the following Plant and Equipment to the value of $290,000 Furniture, Fures and Fings to the value of $140.000 entry to the value of $154,000 All of the above transactions corredate in December 2015 Any cash remaining after these purchases was put into a bank account Os1 March 2019, the company took out a bankoverdraft. The outstanding balance on 11 December 2019 was $36,000. (This is to be recorded separately from the cash balance rather than combined. Only 2019, motor vehides to the value of $160.000 were purchased On 31 December 2019, the company bud corporate bonds to the value of $660.000, and used the proceeds to purchase an additional factory costing 5660,000 On 11 December 2019, the company Wed 117000 new ordinary shares at a price of each and 215,000 new preference shares ata price of $1 each. Some of the amount wassed to buy additional plant and equipment for the new factory at a cost of $250.000 During the course of the year ending 11 December 2013, the following transactions occurred: Enter Student No. Part 2 - Data and Instructions Part 2 (A) Part 2 (8) Part 2 (C) esc Paste Merge & Centre E3 x fx N During the course of the year ending 31 December 2015, the following transacions occurred Products to the value of $2,091,000 were sold and delivered. These sales were made on the basis of one month's credit of the $2.091.000 noming in 2019, protect to the value of $167.000 were delivered in December 2019 and will not be paid for un january 2009 Raw material to the value of 51.171.poo were order and takende very of these purduses were on the bassofone month crorth $1,171,00 inwatertas purchased 1019, aw materials to the value of $131.000 were ordered and taken delivery ember 2010 and will not be paid for the 2020 Payment of Wages ($126.000 Payment of enfor 2019 $104,000 Payment of Motor Vehide penses 1943.000 Paymefrance for 2019 540.000 Payment of (565.000 Payment for Printing Stationery 15 21,000 Payment for Heating and go for 2019 (5.000 Payment for Telephone, Postage and letemet Charges 15170001 In addition, an additional Six. was peld December for any addition to the above interest payment the clowing on the more reduced by $42.000 + The value of inventory on December 2019 was $125.000 Additional formation Deprecation motor vehides plant and equipment and future and fitting on a straight-basis at the rate of 10 per year Land and not deprecated The company faces axrate of 20%. The company's wides Payout Ratio 65 Complete the bow art 2 those tabs Complete as many els do round oubens to the 01", avete and your mon You do not need to complete every need to construct the varrelsen mbensin thousands of whole number of thousands of dollars Son Deadline 11.55pm Sunday September 2020 Format Pease do not change the name of the file. There is no need to Indude your student Pumber of your name in the name Enter Student No. Part 2 - Data and Instructions Part 2 (A) Part 2 (B) Part 2 (C) esc BUSSIAF Assignment Part 2 (1) Insert Home 0 Comments Draw Page Layout Formulas Data Review Share View Tell me X Paste A Confowa Formatting Tables C35 X fx BUSSIAF - INTRODUCTION TO ACCOUNTING AND FINANCE Rakshith Enterprises Ltd Balance Sheet as at 31 December 2018 IMPORTANT NOTE Note: All values should be whole numbers of thousands of dollars. All values should be positive except for depreciation SO LABILITIES bomber tingi Panto Gary Depreciation Portement Total Curres Total Current Asset Les Demons AS Rece news Doble Part 20 Part 2 + Part 2 A Part 2 Ent Student No. Part 2 - Data and instructions Autodiave BUSSIAF Assignment Part 2 (10) SJE Page Layout Home Insert Draw Formulas Data Review View Tell me X - Wrap Text Paste Merge Centre $ % 9 Conditional Format Formatting as Table Styles 35 x x Non Asset Non creates Mortgages Income Tax Payable less Depreciation on M Corporate Bonds Accounts Receivable Preference Shares less Depreciation on inventory Dividends Payable Furniture, iwures Motor Vehides Total Non-current Assets Total Non-current Liabilities TOTAL LIABILITIES = SMARTHOLDERS' EQUITY TOTAL SHAREHOLDERS' EQUITY = TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY TOTAL ASSETS Part 2 (D) Part 20 Part 2 Part 2 - Data and Instructions Part 2 Enter Student No Autove BUSSIAF Assignment Part 2 (U Home Insert Draw Page Layout Formulas Data Review View Tell me - A A Wrap Test Merge Centre S% Conditional Forma For a table Styles E19 x x Rakshith Enterprises Ltd Profit & Loss Statement for the year ending 31 December 2019 Note: All values should be whole numbers of thousands of dollars. All income should be positive numbers and all expenses should be negative IMPORTANT NOTE Son INCOME The decisions de tropdown. Unless you enter descriptions that exactly match the descriptions dropdown bows you will be marked as incorrect. If your device or tware does not support dropdown bow, critically important that you doptions that catch the description in the town, induding capitalisation, and punctuation. If you find you cannot webwenting dari thus to the let, strongly recommended that you may and prior tom Total income w less Cost of Swed GROSSO OBATIGLXHOSES Enter Student Part 2 Part 2 Part 20 esc & $ 4 1 2 3 5 6 7 8 Q W E R T Y U tab A S D F F G H. J K sloc AutoSave ONE BUSSIAF Assignment Part 2 (1) Home Insert Page Layout Formulas Data Review View Tell me A A Wrap Text Paste Merge Centre Conditional Forming C17 Xfx GROSS PROFIT Por less OECDATING EXPENSES Motor Vehicle Ring Telephone Postage internet Total Operating Expenditure EANS BEFORE INTEREST AND TAXE PROFIT BEFORE TAX NET POSIT Dividendidedared Transfer to Retired Earrings Enter Student No Part 2 - Data and instructions Part 2 A Part 2 Part 2 Part 20 + esc $ % Paste Merge & Centre Conditional Format Cell Formatting as Table Styles 115 x fx BUSSIAF - INTRODUCTION TO ACCOUNTING AND FINANCE Rakshith Enterprises Ltd Balance Sheet as at 31 December 2018 ASSETS Note: All values should be whole numbers of thousands of dollars. All values should be positive except for depreciation. IS001 ESCO LIABILITIES 15.0001 Current abilities 15000) Current Assets Total Current Assets - Total Current Liabilities Non-current Assets Non current lite Enter Student No. Part 2 - Data and Instructions Part 2 (A) Part 2 (8) Part 2) Part 2 (D) + IMPORTANT NOTE The description fields on this tab are designed to use dropdown boxes. Unless you enter descriptions that exactly match the descriptions in those dropdown boxes, you will be marked as incorrect. If your device or software does not support dropdown boxes, it is critically important that you enter descriptions that exactly match the descriptions in the folllowing list, including capitalisation, spelling and punctuation. If you find you cannot select from dropdown boxes when entering descriptions in the fields to the left, it is strongly recommended that you copy and paste descriptions from the following list. Land & Buildings Bank Loans Plant & Equipment Ordinary Shares Accounts Payable less Depreciation on Plant & Equipment Retained Earnings Mortgage Loans Income Tax Payable less Depreciation on Motor Vehicles Corporate Bonds Accounts Receivable Bank Overdraft Preference Shares Cash less Depreciation on Furniture, Fixtures & Fittings Inventory Dividends Payable Pre-paid Expenses Furniture, Fixtures & Fittings Motor Vehides 100%