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REQUIRED Use the infomation provided bebw to prepare the following: 2 . 1 Pro Forma Stalement of Comprehensive hcome for the year ended 3 1
REQUIRED Use the infomation provided bebw to prepare the following: Pro Forma Stalement of Comprehensive hcome for the year ended December using the percentageofsales method. Pro Forma Statement of Finandial Position as at December marks INFORMATION The following information was provided by Sharpe Ldd to assist with the preparation of the pro forma financial statements for the financial year ended December : Additional information Sales for the year ended December are expected to be RB Company tax is calculated at of the pretax profit. Compary tax payable owing on December will equal to of the tax calculated in the Pro Forma Statement of Comprehensive Income. An old machine Cost price R; Accumulated depreciation R is expected to be sold at carrying value book value on December and a new machine with a cost price of R will be purchased on the same date to replace it Total depreciation for the year ended December is expected to be R The company's closing irventory wil change drectly with changes in sales for the financial year ended December Accounts receivable represent approximately of the annual sales. The cash balance is expecled to remain unchanged. The authorized share capital consists of shares of which heve been issued up to December Forty percent of the unissued shares will be sold at R each during July A final dividend of cents per share is expecled to be recommended on December on all the issued shares and is payable during R of the loan wil be repaid to VIP bank during the financial year ended December Accounts payable will be based on a payment, period of days. Credit purchases for are expected to amount to R The cash balance must be calculated balancing figure
REQUIRED
Use the infomation provided bebw to prepare the following:
Pro Forma Stalement of Comprehensive hcome for the year ended December
using the percentageofsales method.
Pro Forma Statement of Finandial Position as at December
marks
INFORMATION
The following information was provided by Sharpe Ldd to assist with the preparation of the pro forma financial
statements for the financial year ended December : Additional information
Sales for the year ended December are expected to be RB
Company tax is calculated at of the pretax profit. Compary tax payable owing on December
will equal to of the tax calculated in the Pro Forma Statement of Comprehensive
Income.
An old machine Cost price R; Accumulated depreciation R is expected to be sold at
carrying value book value on December and a new machine with a cost price of R
will be purchased on the same date to replace it Total depreciation for the year ended December
is expected to be R
The company's closing irventory wil change drectly with changes in sales for the financial year ended
December
Accounts receivable represent approximately of the annual sales.
The cash balance is expecled to remain unchanged.
The authorized share capital consists of shares of which heve been issued up to
December Forty percent of the unissued shares will be sold at R each during July
A final dividend of cents per share is expecled to be recommended on December on all the
issued shares and is payable during
R of the loan wil be repaid to VIP bank during the financial year ended December
Accounts payable will be based on a payment, period of days. Credit purchases for are
expected to amount to R
The cash balance must be calculated balancing figure
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