The statement of financial position of Rania Corporation as at 31 December 2020 is given below together with comparative figures for the previous year. Statement of financial position of Rania Corporation as at 31 December 2020 Particulars 2020 2019 Particulars 2020 2019 OMR OMR Equity and liabilities 77,000 62,000 Capital and reserves Ordinary share capital 11,500 9,500 Share premium 11,400 16,600 Retained earnings 2,000 1,500 Non-current liabilities 3,800 2,100 Long term Bank loan Current liabilities Trade payables Proposed dividends Assets OMR OMR Non-current assets 80,000 65,000 3,200 2,400 15,800 3,000 Current assets Inventory Trade receivables Short-term investments Cash/ Bank Balance 0 11,000 1,000 4,100 4,200 4,300 1,500 1,900 105,700 91,700 Total equity and liabilities 105,700 91,700 Taxation Provision Total assets Additional Information a) Interest paid during the year was 2,000. b) Tax paid and dividend paid are OMR 1,900 and OMR 4,300 respectively. c) Depreciation charge for the year was 9,400 d) Non-current assets with a book value of 8,000 were sold for OMR 8,600 at a profit of 600 e) Non-current assets costing 32,400 were purchased during the year Required > Calculate "profit before interest and tax' > Prepare statement of cash flow for the year ended 31 December 2020
The statement of financial position of Rania Corporation as at 31 December 2020 is given below together with comparative figures for the previous year. Statement of financial position of Rania Corporation as at 31 December 2020 Particulars 2020 2019 Particulars 2020 2019 OMR OMR Equity and liabilities 77,000 62,000 Capital and reserves Ordinary share capital 11,500 9,500 Share premium 11,400 16,600 Retained earnings 2,000 1,500 Non-current liabilities 3,800 2,100 Long term Bank loan Current liabilities Trade payables Proposed dividends Assets OMR OMR Non-current assets 80,000 65,000 3,200 2,400 15,800 3,000 Current assets Inventory Trade receivables Short-term investments Cash/ Bank Balance 0 11,000 1,000 4,100 4,200 4,300 1,500 1,900 105,700 91,700 Total equity and liabilities 105,700 91,700 Taxation Provision Total assets Additional Information a) Interest paid during the year was 2,000. b) Tax paid and dividend paid are OMR 1,900 and OMR 4,300 respectively. c) Depreciation charge for the year was 9,400 d) Non-current assets with a book value of 8,000 were sold for OMR 8,600 at a profit of 600 e) Non-current assets costing 32,400 were purchased during the year Required > Calculate "profit before interest and tax' > Prepare statement of cash flow for the year ended 31 December 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer competely
Transcribed Image Text:Ques 6:
The statement of financial position of Rania Corporation as at 31 December 2020 is given below
together with comparative figures for the previous year.
Statement of financial position of Rania Corporation as at 31 December
2020
Particulars
Assets
Non-current assets
Current assets
2020
2019
Particulars
2020
2019
OMR OMR Equity and liabilities
77,000 62,000 Capital and reserves
OMR
OMR
80,000 65,000
3,200 2,400
15,800 3,000
Ordinary share capital
11,500 9,500 Share premium
11,400 16,600 Retained earnings
2,000 1,500 Non-current liabilities
3,800 2,100 Long term Bank loan
Current liabilities
Trade payables
Proposed dividends
Inventory
Trade receivables
Short-term investments
Cash/ Bank Balance
이 11,000|
1,000 4,100
4,200 4,300
1,500 1,900
105,700 91,700 Total equity and liabilities 105,700 91,700
Taxation Provision
Total assets
Additional Information
a) Interest paid during the year was 2,000.
b) Tax paid and dividend paid are OMR 1,900 and OMR 4,300 respectively.
c) Depreciation charge for the year was 9,400
d) Non-current assets with a book value of 8,000 were sold for OMR 8,600 at a profit of
600
e) Non-current assets costing 32,400 were purchased during the year
Required
> Calculate 'profit before interest and tax'
> Prepare statement of cash flow for the year ended 31 December 2020
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education