Introduction to Financial Accounting Question 8. current financial year end after all entries have been processed and the prof The following are balances on a Lauren a sole trader's account, as at the er 25A year calculated Non-current assets Receivables Bank loan Provision for depreciation led as al 0 15,0001s faoo is eloiriev oloma Inventory Accruals Prepayment Overdraft 59,000 £66,000 C62,000 54,000 000.28 at is the balance of Lauren's capital? Isaogaid nut-08 024,881 024 ITS £ 85,000 7,000 4,000 1,000 no 2,000 2,000 gonsled blo loidev otoM AC4UK350 002,0ar 020,ost evs E yriss 900 eros bld enoil *068 10A

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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EARIOUS
current financial year end after all entries have been processed and the profit of the
The following are balances on a Lauren a sole trader's account, as at the end of the
abiawluo opeme? 00103 Monq 28010 sieb gniwollot and navig
254.83
024,53 (d
85.83 (3
year calculated
as0.03 (p
Introduction to Financial Accounting
Question 8.
Non-current assets
Receivables
a) 40,000
b) 40,000
-) 50,000
50,000
Trade payables
Bank loan
Provision for depreciation plec
Inventory
Accruals
Prepayment
Overdraft
a) 59,000
b) £66,000 0.881
c) £62,000
(d) £64,000
024, ITS
£
85,000
7,000
3,000
15,000
15,000 is feoo is elbirley holom a vrisano A
4,000
1,000
What is the balance of Lauren's capital?
000,28
Isaoqaid nul-08
2,000
2,000
gonsis8
blo
animuo AC4UK350 nolunt
bloidev 10toM
002,021
Income statementuo-nons es beitizeslo ag Sta
£
02e,ost
OUA ITS
10t sonsled Isi e'boneq pniwollot erlt ni bebuloni ed bluore eonsisd grineqo terW
Question 9
OSOS vlul tto teoo-elbirlev notom.
eonsisä
eros bld
enoitibbA
Which of the following items will appear as current liabilities in a company's statement of
financial position?
90 00153 (d
90 024,8813 (6
0813 (b
Xn68 1qA-to
a) Loan due for repayment within one year, taxation, share premium
b) Loan due for repayment within one year, taxation, interest due on loan notes
C) Share premium, taxation and trade receivables
8 noitesuo
d) Loan due for payment within one year, taxation and general reserves
bris 002, T13 to aleaas inemus 000,083 to steaes Instvo-non esrl eesnieud nelA
Question 10 qiso e'nslA esiilidsil met-prol on ens exedT 008,83 to esitilidsil tromuo
001.123 (6)
gorara (d
During the year 2019, Chase Ltd paid a total of £60,000 for rent, covering the period
from 1 October 2019 to 31 March 2021. What figures should appear in the
company's financial statement for the year ended 31 December 2020?
(b)
soitto
£
slesen 10 15,000 Prepayment
10,000 Prepayment
10,000 Accrual
10,000 Accrual
Statement of financial position
Tnoitesu
(8)
(o
Introduction
Questic
n
The fo
June
esti
stion
O
tion E
al Th
osed
Jon-p
Plea
Transcribed Image Text:EARIOUS current financial year end after all entries have been processed and the profit of the The following are balances on a Lauren a sole trader's account, as at the end of the abiawluo opeme? 00103 Monq 28010 sieb gniwollot and navig 254.83 024,53 (d 85.83 (3 year calculated as0.03 (p Introduction to Financial Accounting Question 8. Non-current assets Receivables a) 40,000 b) 40,000 -) 50,000 50,000 Trade payables Bank loan Provision for depreciation plec Inventory Accruals Prepayment Overdraft a) 59,000 b) £66,000 0.881 c) £62,000 (d) £64,000 024, ITS £ 85,000 7,000 3,000 15,000 15,000 is feoo is elbirley holom a vrisano A 4,000 1,000 What is the balance of Lauren's capital? 000,28 Isaoqaid nul-08 2,000 2,000 gonsis8 blo animuo AC4UK350 nolunt bloidev 10toM 002,021 Income statementuo-nons es beitizeslo ag Sta £ 02e,ost OUA ITS 10t sonsled Isi e'boneq pniwollot erlt ni bebuloni ed bluore eonsisd grineqo terW Question 9 OSOS vlul tto teoo-elbirlev notom. eonsisä eros bld enoitibbA Which of the following items will appear as current liabilities in a company's statement of financial position? 90 00153 (d 90 024,8813 (6 0813 (b Xn68 1qA-to a) Loan due for repayment within one year, taxation, share premium b) Loan due for repayment within one year, taxation, interest due on loan notes C) Share premium, taxation and trade receivables 8 noitesuo d) Loan due for payment within one year, taxation and general reserves bris 002, T13 to aleaas inemus 000,083 to steaes Instvo-non esrl eesnieud nelA Question 10 qiso e'nslA esiilidsil met-prol on ens exedT 008,83 to esitilidsil tromuo 001.123 (6) gorara (d During the year 2019, Chase Ltd paid a total of £60,000 for rent, covering the period from 1 October 2019 to 31 March 2021. What figures should appear in the company's financial statement for the year ended 31 December 2020? (b) soitto £ slesen 10 15,000 Prepayment 10,000 Prepayment 10,000 Accrual 10,000 Accrual Statement of financial position Tnoitesu (8) (o Introduction Questic n The fo June esti stion O tion E al Th osed Jon-p Plea
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