Fixed assets Tangible assets Intangible assets Investments Current assets Stocks Debtors 90-day deposit Cash in hand Pennylane Ltd Balance Sheets as at 31 December Creditors: amounts falling due within one year Trade creditors Bank overdraft Taxation Net current assets Total assets less current liabilities Creditors: amounts falling due after one year Long-term loan Provisions for liabilities and charges: deferred taxation Capital and reserves Share capital (£1 ordinary shares) Share premium account Revaluation reserve Profit and loss account Cost Accumulated depreciation Net book value 20X3 £000 400 230 Required: Your are required to prepare cash flows statement for Pennylane Ltd. 630 120 400 50 10 580 122 188 120 430 150 780 (100) (80) 600 Additional information: (a) During the year interest of £75,000 was paid, and interest of £25,000 was received. (b) The following information relates to tangible fixed assets. At 31 December 200 160 100 140 600 20X3 £000 740 (340) 400 20X2 £000 325 180 25 530 104 295 4 403 108 185 110 403 530 (60) 470 150 150 90 80 470 20X2 £000 615 (290) 325 (c) The proceeds of the sale of fixed asset investments were £30,000. (d) Plant, with an original cost of £90,000 and a net book value of £50,000, was sold for £37,000. (e) Tax paid to the Inland Revenue during 20X3 amounted to £110,000. (f) Dividends of £80,000 were paid during 20X3.
Fixed assets Tangible assets Intangible assets Investments Current assets Stocks Debtors 90-day deposit Cash in hand Pennylane Ltd Balance Sheets as at 31 December Creditors: amounts falling due within one year Trade creditors Bank overdraft Taxation Net current assets Total assets less current liabilities Creditors: amounts falling due after one year Long-term loan Provisions for liabilities and charges: deferred taxation Capital and reserves Share capital (£1 ordinary shares) Share premium account Revaluation reserve Profit and loss account Cost Accumulated depreciation Net book value 20X3 £000 400 230 Required: Your are required to prepare cash flows statement for Pennylane Ltd. 630 120 400 50 10 580 122 188 120 430 150 780 (100) (80) 600 Additional information: (a) During the year interest of £75,000 was paid, and interest of £25,000 was received. (b) The following information relates to tangible fixed assets. At 31 December 200 160 100 140 600 20X3 £000 740 (340) 400 20X2 £000 325 180 25 530 104 295 4 403 108 185 110 403 530 (60) 470 150 150 90 80 470 20X2 £000 615 (290) 325 (c) The proceeds of the sale of fixed asset investments were £30,000. (d) Plant, with an original cost of £90,000 and a net book value of £50,000, was sold for £37,000. (e) Tax paid to the Inland Revenue during 20X3 amounted to £110,000. (f) Dividends of £80,000 were paid during 20X3.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Fixed assets
Tangible assets
Intangible assets
Investments
Current assets
Stocks
Debtors
90-day deposit
Cash in hand
Pennylane Ltd
Balance Sheets as at 31 December
Creditors: amounts falling due within one year
Trade creditors
Bank overdraft
Taxation
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after one year
Long-term loan
Provisions for liabilities and charges: deferred taxation
Capital and reserves
Share capital (£1 ordinary shares)
Share premium account
Revaluation reserve
Profit and loss account
Cost
Accumulated depreciation
Net book value
20X3
£000
400
230
Required:
Your are required to prepare cash flows statement for Pennylane Ltd.
630
120
400
50
10
580
122
188
120
430
150
780
(100)
(80)
600
Additional information:
(a) During the year interest of £75,000 was paid, and interest of £25,000 was received.
(b) The following information relates to tangible fixed assets.
At 31 December
200
160
100
140
600
20X3
£000
740
(340)
400
20X2
£000
325
180
25
530
104
295
4
403
108
185
110
403
530
(60)
470
150
150
90
80
470
20X2
£000
615
(290)
325
(c) The proceeds of the sale of fixed asset investments were £30,000.
(d) Plant, with an original cost of £90,000 and a net book value of £50,000, was sold for £37,000.
(e) Tax paid to the Inland Revenue during 20X3 amounted to £110,000.
(f) Dividends of £80,000 were paid during 20X3.
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