Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

REQURRED Pregare the Pro Foma Sutenent of Financial Posison of Questor Entoprises as at 31 Otbber 2002. INFORMATION The following ithomation wss provided by Cuestor

image text in transcribed
REQURRED Pregare the Pro Foma Sutenent of Financial Posison of Questor Entoprises as at 31 Otbber 2002. INFORMATION The following ithomation wss provided by Cuestor Enterprses to assist in detemining is francial position as at 31 0ctober 2022 The sales for he yeas ended 31 0ciober 2021 =as RS00 000. The saies are expectad to ncrease to R1 000000 for the year ended 31 Octsber 2022. 50000 ordinay shares at R1. 50 each are expected to be issued on 30 Novenber 2021. A planned purchase of equpment daring Decenber 2021 is estruatad at R390 000. Depreciation for the year ended 31 0ctiber 20222 is erpected b be Res 000 . The ater-tax retum on sales is forecast at 20%. A final divend of 82% of the profit ather tax is expected to be deciared and tis payable during December 2002 . Company tax for the year ended 31 0otuber 2022 is estmated to be Re5 000. Provisonal tax payments amounting to RTT 000 are expected to be nade during be year ended 31 0ctsber 2002. The percentage-ol-sales metod must be usod for the current assets and acounts payable. The anount of exsemal funding required (non-current Febilites) must be caloulted. The Statement of Francial Postion at the end of Octaber 2021 is as follows: REQURRED Pregare the Pro Foma Sutenent of Financial Posison of Questor Entoprises as at 31 Otbber 2002. INFORMATION The following ithomation wss provided by Cuestor Enterprses to assist in detemining is francial position as at 31 0ctober 2022 The sales for he yeas ended 31 0ciober 2021 =as RS00 000. The saies are expectad to ncrease to R1 000000 for the year ended 31 Octsber 2022. 50000 ordinay shares at R1. 50 each are expected to be issued on 30 Novenber 2021. A planned purchase of equpment daring Decenber 2021 is estruatad at R390 000. Depreciation for the year ended 31 0ctiber 20222 is erpected b be Res 000 . The ater-tax retum on sales is forecast at 20%. A final divend of 82% of the profit ather tax is expected to be deciared and tis payable during December 2002 . Company tax for the year ended 31 0otuber 2022 is estmated to be Re5 000. Provisonal tax payments amounting to RTT 000 are expected to be nade during be year ended 31 0ctsber 2002. The percentage-ol-sales metod must be usod for the current assets and acounts payable. The anount of exsemal funding required (non-current Febilites) must be caloulted. The Statement of Francial Postion at the end of Octaber 2021 is as follows

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

The Politics Of Public Management The HRDC Audit Of Grants And Contributions

Authors: David A. Good

2nd Edition

0802085873, 978-0802085870

More Books

Students also viewed these Accounting questions