Question
#urgent Please find the incorrect Balance sheet, the incorrect PnL, and the incorrect cash flow statement for the year 2020 attached below. After the closing,
#urgent
Please find the incorrect Balance sheet, the incorrect PnL, and the incorrect cash flow statement for the year 2020 attached below.
After the closing, it was found a note with the following information that has not been included in the reports. Please make the changes in the entire incorrect Balance sheet, the incorrect PnL, and the incorrect cash flow statement for the year 2020.
- On the 1st of February 2020, 15 computers with a unit value of 1500? have been bought
- On the 1st of July 2020, XYZ has bought 10 desks with a unit value of 2000?. The desks have been delivered on the 1st of October 2020
- On the 1st of December 2020, XYZ has concluded a contract with a freelancer to work on the platform for a value of 100k?. The Freelancer was done with is work on the 21st of December and XYZ will have 30 days to pay him.
- The Legal department needed the support of some international consultant on an insurance topic for 50k?. The consulting should be done on the 15th of December 2020 and the invoice is expected by the 5th of January 2021.
- The internet contract has been changed on the 4th of April 2020. XYZ has to pay an additional invoice covering the period from the 1st of April 2020 until the 31st of March 2021.
- A new loan has been contracted with the bank of America on the 1st of October 2020. The value of the loan is 500k? and will be reimbursed over 5 years with an interest rate of 2,5% per year. The payment are done to Bank of America on a quarterly basis.
- If possible, XYZ will distribute 200k? as dividends to the shareholders with regards to the net income from 2020. The payment should be done on the 31st of March 2021.
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