Mini-scenario 1 The questions all relate to transactions undertaken by Struli GmbH, a German business. Required: 1. The CFO uses the company's overdraft to pay a supplier €20,000. What is the impact on the net assets of the company in monetary terms? The Board of Directors decides that old inventory costing €18,000 is to be written off as the inventory is no longer sellable (it has gone out of fashion). Identical inventory in the past was sold to customers for €31,000. 2. What is the impact on the net assets of the company in monetary terms? 3. The company repays a €45,000 loan by taking out another loan for €30,000 and raising €15,000 new equity. What is the impact on the net assets of the company in monetary terms? 4. One of the directors has loaned the company €25,000 of her own money. What is the impact on the net assets of the company in monetary terms? A customer has returned unwanted goods and the company has agreed to refund the customer in full. These goods were sold to the customer for €10,000. There is nothing wrong with the goods and they will be offered for sale to future customers. The goods originally cost €7,000. What is the impact on the net assets of the company in monetary terms? 5.

Mini-scenario 1 The questions all relate to transactions undertaken by Struli GmbH, a German business. Required: 1. The CFO uses the company's overdraft to pay a supplier €20,000. What is the impact on the net assets of the company in monetary terms? The Board of Directors decides that old inventory costing €18,000 is to be written off as the inventory is no longer sellable (it has gone out of fashion). Identical inventory in the past was sold to customers for €31,000. 2. What is the impact on the net assets of the company in monetary terms? 3. The company repays a €45,000 loan by taking out another loan for €30,000 and raising €15,000 new equity. What is the impact on the net assets of the company in monetary terms? 4. One of the directors has loaned the company €25,000 of her own money. What is the impact on the net assets of the company in monetary terms? A customer has returned unwanted goods and the company has agreed to refund the customer in full. These goods were sold to the customer for €10,000. There is nothing wrong with the goods and they will be offered for sale to future customers. The goods originally cost €7,000. What is the impact on the net assets of the company in monetary terms? 5.

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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