Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 4 (Marks: 251 The following is an incomplete statement of financial position of Bruno Limited as at 31 December 2023: Bruno Limited. Statement of

image text in transcribed
Question 4 (Marks: 251 The following is an incomplete statement of financial position of Bruno Limited as at 31 December 2023: Bruno Limited. Statement of financial position as at 31 December 2023: 2023 2022 ASSETS NOI'I-CU rrent assets Property, plant and equipment Current assets Inventory 288 000 48 000 Trade receivables 244 000 231 000 Total assets Capital and reserves Share capital and reserves Issued share capital 100 000 Accumulated profit 40 000 80 000 Non-current liabilities Interest -bearing debt Current liabilities Trade and other payables Total equity and liabilities 980 000 612 000 Additional information: 0 Selected financial ratios calculated from the above financial statements are as follows: 2023 2022 Noncurrent assets : Equity 1.85:1 Non-current liabilities: Equity 1.8:1 o No new shares were issued during the year. 0 Purchases for the year ended 31 December 2023 amounted to R620 000. REQUIRED: Re-d raft and complete the statement of financial position of Bruno Limited as at 31 December 2023. Comparative figures are required

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting The Cornerstone Of Business Decision Making

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

8th Edition

0357715349, 978-0357715345

More Books

Students also viewed these Accounting questions