17. The Statement of financial position of Calvert Ltd at 31 December 2019 is as follows: Statement of financial position at 31 December 2019 2018 £000 £000 Non current assets Investment at cost 50 100 Plant and equipment – cost Less: accumulated depreciation 2,470 1,790 630 850 1,620 1,670 1,160 1,260 Current assets 740 Inventory Receivables 510 1,010 640 Bank 330 1,750 3,420 1,480 2,740 Total assets Equity Equity £1 shares Share premium Revaluation reserve 500 400 140 100 300 300 Retained earnings 730 800 1,670 1,600 Current liabilities Trade payables Corporation tax Bank overdraft 660 530 110 190 850 640 Non current liabilities long term loan 900 500 1,750 3,420 1,140 2,740 Total liabilities Total equity and liabilities

17. The Statement of financial position of Calvert Ltd at 31 December 2019 is as follows: Statement of financial position at 31 December 2019 2018 £000 £000 Non current assets Investment at cost 50 100 Plant and equipment – cost Less: accumulated depreciation 2,470 1,790 630 850 1,620 1,670 1,160 1,260 Current assets 740 Inventory Receivables 510 1,010 640 Bank 330 1,750 3,420 1,480 2,740 Total assets Equity Equity £1 shares Share premium Revaluation reserve 500 400 140 100 300 300 Retained earnings 730 800 1,670 1,600 Current liabilities Trade payables Corporation tax Bank overdraft 660 530 110 190 850 640 Non current liabilities long term loan 900 500 1,750 3,420 1,140 2,740 Total liabilities Total equity and liabilities

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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