Question
Presented below is the classified balance sheet for one of businesses: ABC PLC Consolidated Balance Sheet at December 31, 2019 CAPITAL EMPLOYED Fixed Assets: Intangible
Presented below is the classified balance sheet for one of businesses:
ABC PLC Consolidated Balance Sheet at December 31, 2019 | |
CAPITAL EMPLOYED | |
Fixed Assets: | |
Intangible Assets | 216,7 M |
Tangible Assets | 793,7 |
Investments | 7,4 |
1,017,8 | |
Current Assets | |
Stock | 373,9 |
Debtors | 624,2 |
Cash | 175,6 |
1,173,7 | |
Current Liabilities | |
Creditors: amounts falling due within one year | (502,3) |
Net current assets | 671,4 |
Total assets less current liabilities | 1,689.2 |
Creditors: amounts falling due after more than one year | (488,4) |
Provisions for liabilities and charges | (423,5) |
Net Assets | 777,3 |
CAPITAL AND RESERVES | |
Called up share capital | |
Ordinary shares | 38,7 |
Convertible cumulative preference shares | 337,2 |
Redeemable convertible cumulative preference shares | - |
375,9 | |
Share premium account | 92,8 |
Capital redemption reserve | 461,9 |
Own shares | (6.4) |
Profit and loss account | (180,2) |
Shareholders Funds | |
Equity shareholders funds 406,8 | |
Non-equity shareholders funds 337,2 | |
744,0 | |
Equity minority interest | 33,3 |
777,3 |
Required:
- Identify how format of the above classified balance sheet provides useful information.
- Identify at least three differences in balance sheet reporting between British and U.S. firms as shown in the above balance sheet. .
3.Calculate at least three financial ratios by using the information available in the above format of balance sheet .
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