Scanned with CamScannerScanned with CamScannerBalance Sheets as at 31 DecemberNon current asseCurrent assetsess depreciationAccounts recoTotal assetsAccounts pavableoan hotesNet awetseentory at 1 January 2018 was E50,000.Required:2018 and 2019Cn Net promt capons for and signiof any changes in the ratios shown by your calatonScanned with CamScannergiven below.Income Statements for the years ending 31 December20182019£00£000£000E000SalesLess Cost of salesGross profit200(150)50280(210)70LessAdministration expenses3846Loan note interest4(50)(38)12Net profit20

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la given below. Income Statements for the years ending 31 December 2018 2019 £000 £000 £000 £00C Sales Less Cost of sales Gross profit 200 (150) 50 280 (210 70 Less Administration expenses Loan note interest 38 46 4. (38) 12 (50 20 Net profit

la given below. Income Statements for the years ending 31 December 2018 2019 £000 £000 £000 £00C Sales Less Cost of sales Gross profit 200 (150) 50 280 (210 70 Less Administration expenses Loan note interest 38 46 4. (38) 12 (50 20 Net profit

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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Question

Scanned with CamScanner
Scanned with CamScanner
Balance Sheets as at 31 December
Non current asse
Current assets
ess depreciation
Accounts reco
Total assets
Accounts pavable
oan hotes
Net awetse
entory at 1 January 2018 was E50,000.
Required:
2018 and 2019
Cn Net promt capons for and signi
of any changes in the ratios shown by your calaton
Scanned with CamScanner
given below.
Income Statements for the years ending 31 December
2018
2019
£00
£000
£000
E000
Sales
Less Cost of sales
Gross profit
200
(150)
50
280
(210)
70
Less
Administration expenses
38
46
Loan note interest
4
(50)
(38)
12
Net profit
20

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