Q) The following balances are taken from the books of company ABC at the end of its first year trading on 31 December 2017. Intangible Assets 22,150 Retained Earnings 20,000 Heating and Electricity machines 900 Cash 2200 Loans (due in 2020) 1500 Payables 1300 Furniture and fittings 10,000 Trucks and vehicles 8,000 Buildings and equipment 30,000 Paid in capital 45,450 Dividends declared 10,000 Goodwill 5000 A) Prepare a balance sheet as at 31 December 2017. B) Based on the balance sheet created, discuss within your team the financial state of the company and answer.
Q) The following balances are taken from the books of company ABC at the end of its first year trading on 31 December 2017. Intangible Assets 22,150 Retained Earnings 20,000 Heating and Electricity machines 900 Cash 2200 Loans (due in 2020) 1500 Payables 1300 Furniture and fittings 10,000 Trucks and vehicles 8,000 Buildings and equipment 30,000 Paid in capital 45,450 Dividends declared 10,000 Goodwill 5000 A) Prepare a balance sheet as at 31 December 2017. B) Based on the balance sheet created, discuss within your team the financial state of the company and answer.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q) The following balances are taken from the books of company ABC at the end of its first year trading on 31 December 2017.
Intangible Assets 22,150
Heating and Electricity machines 900
Cash 2200
Loans (due in 2020) 1500
Payables 1300
Furniture and fittings 10,000
Trucks and vehicles 8,000
Buildings and equipment 30,000
Paid in capital 45,450
Dividends declared 10,000
A) Prepare a
B) Based on the balance sheet created, discuss within your team the financial state of the company and answer.
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