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This is a very hard finance question. All help will be appreciated Pride Care Limited Income Statement for the Year ended December 31, 2017 Sales
This is a very hard finance question. All help will be appreciated
Pride Care Limited Income Statement for the Year ended December 31, 2017 Sales 90.000 Gros Profit 550.000 Prote 325.000 145.000 Profit Aher SS DOO Dwidends (2.000 146,000 Tractors 120.000 Profit for year 135,000 Betained and 121,000 Retained Comingsod 257,000 2012 1.000 Pride Creme Statement of Financial in December 11, 2017 2015 Non-Current Good 110.000 Building 250.000 275.000 280.000 790.000 Less Deco 15.000 5.00 11000 255.000 Current Assets Stock 2.000 25.000 Short term investment 15.000 28.000 Debtors 12.000 $6.000 Circh 12.000 6.000 111.000 B000 Totales 635.000 637.000 10.000 AMERS ENBOEXAMINATIONS Theme C. Share . 10 Pride Care Income Statement for the Yearded December 11, 2017 000 Grow 550,000 Protefore 125.000 (148.000 Aerox 180.000 Com 20 148.000 Trade Pro for your Robinet Betained in / w 11.00 11.000 257.000 Garder wwwwwwwww Pride Care Limited Statement of Financial action Dec. 2017 2016 2011 Nion Current Arts Good 110.000 35.000 250.000 350.000 200.000 Law Deprestation 1.000 Current Stock 32.000 Shortum ment 19.000 25.000 Du 17.000 0.000 B 10.000 100 000 B1.000 21000 Total 66.00 63.000 instasize ACC73801 Question 4 Flexim Packaging issued 1,400,000 ordinary shares of 1$ each at a premium of 80 cents. The terms of issue were: 45 cents on application $1.10 on allotment including premium 25 cents on the first and final call Application was received for 1,700,000 shares. Applications for 300,000 shares were returned. The money due on the first and final call was received from allottees of 1,394,000 shares; the remaining shares were forfeited and later reissued to another application as fully paid on payment of $1.20 per share. Required: A Prepare the following accounts: i. Application and allotment (8 marks) ii. Ordinary share capital (4 marks) iii. Bank account (4 marks) iv. Share premium (2 marks) v. First and final call (3 marks) vi. Investment: own shares (3 marks) Compare THREE (3) characteristics of companies with other forms of business organisation. (6 marks) (Total 30 marks) B. Question 3 Pride Care Limited Income Statement for the Year ended December 31, 2017 $ Sales 950,000 Gross Profit 550,000 Profit Before Tax 325,000 Taxation (145,000) Profit After Tax 180,000 Dividends (34,000) 146,000 Transfer to reserves (10,000) Profit for year 136,000 Retained Earnings b/a 121,000 Retained Earnings c/d 257,000 Pride Care Limited Statement of Financial Position as at December 31, 2017 2016 2017 Non-Current Assets Goodwill Building Equipment Less Depreciation 110,000 250,000 210,000 15,000 195,000 35,000 275,000 290,000 35,000 255,000 32,000 25,000 Current Assets Stock Short term investment Debtors Bank Cash 25,000 16,000 15,000 12,000 10,000 12,000 81,000 636,000 6,000 81,000 637,000 Total Assets Pride Care Limited Income Statement for the Year ended December 31, 2017 Sales 90.000 Gros Profit 550.000 Prote 325.000 145.000 Profit Aher SS DOO Dwidends (2.000 146,000 Tractors 120.000 Profit for year 135,000 Betained and 121,000 Retained Comingsod 257,000 2012 1.000 Pride Creme Statement of Financial in December 11, 2017 2015 Non-Current Good 110.000 Building 250.000 275.000 280.000 790.000 Less Deco 15.000 5.00 11000 255.000 Current Assets Stock 2.000 25.000 Short term investment 15.000 28.000 Debtors 12.000 $6.000 Circh 12.000 6.000 111.000 B000 Totales 635.000 637.000 10.000 AMERS ENBOEXAMINATIONS Theme C. Share . 10 Pride Care Income Statement for the Yearded December 11, 2017 000 Grow 550,000 Protefore 125.000 (148.000 Aerox 180.000 Com 20 148.000 Trade Pro for your Robinet Betained in / w 11.00 11.000 257.000 Garder wwwwwwwww Pride Care Limited Statement of Financial action Dec. 2017 2016 2011 Nion Current Arts Good 110.000 35.000 250.000 350.000 200.000 Law Deprestation 1.000 Current Stock 32.000 Shortum ment 19.000 25.000 Du 17.000 0.000 B 10.000 100 000 B1.000 21000 Total 66.00 63.000 instasize ACC73801 Question 4 Flexim Packaging issued 1,400,000 ordinary shares of 1$ each at a premium of 80 cents. The terms of issue were: 45 cents on application $1.10 on allotment including premium 25 cents on the first and final call Application was received for 1,700,000 shares. Applications for 300,000 shares were returned. The money due on the first and final call was received from allottees of 1,394,000 shares; the remaining shares were forfeited and later reissued to another application as fully paid on payment of $1.20 per share. Required: A Prepare the following accounts: i. Application and allotment (8 marks) ii. Ordinary share capital (4 marks) iii. Bank account (4 marks) iv. Share premium (2 marks) v. First and final call (3 marks) vi. Investment: own shares (3 marks) Compare THREE (3) characteristics of companies with other forms of business organisation. (6 marks) (Total 30 marks) B. Question 3 Pride Care Limited Income Statement for the Year ended December 31, 2017 $ Sales 950,000 Gross Profit 550,000 Profit Before Tax 325,000 Taxation (145,000) Profit After Tax 180,000 Dividends (34,000) 146,000 Transfer to reserves (10,000) Profit for year 136,000 Retained Earnings b/a 121,000 Retained Earnings c/d 257,000 Pride Care Limited Statement of Financial Position as at December 31, 2017 2016 2017 Non-Current Assets Goodwill Building Equipment Less Depreciation 110,000 250,000 210,000 15,000 195,000 35,000 275,000 290,000 35,000 255,000 32,000 25,000 Current Assets Stock Short term investment Debtors Bank Cash 25,000 16,000 15,000 12,000 10,000 12,000 81,000 636,000 6,000 81,000 637,000 Total Assets Step by Step Solution
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