The statement of financial position of Weatherly Unlimited (Pty) Ltd is presented below: Statement of Financial Position as at 28 February 2022 R Non - current assets 1 850 000 Property, plant and equipment 1.850 000 Current assets
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The
Position as at 28 February 2022 R Non - current assets 1 850 000 Property, plant and equipment 1.850 000
Current assets 1 250 000 Inventory 480 000 Trade receivables 350 000 Cash and cash equivalents 420 000
TOTAL ASSETS 3 100 000 EQUITY 1 850 000 Ordinary share capital 1 000 000 Distributable reserves 850 000
Non - current liabilities 650 000 Long-term loan 650 000 Current liabilities 600 000 Trade payables 545 000
Short-term portion of long-term loan 55 000 TOTAL LIABILITIES 1 250 000 TOTAL EQUITY AND LIABILITIES
3 100 000 Additional information: The company plans to increase its sales by 10% in the following year. Current annual sales total R2 500 000. After tax profit margin is 5% and half of the profits is retained within the company. All sales are currently made on credit and in future, sales will remain on credit. What is the additional
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- Below are the financial statements for Aspirations Pty Ltd. Statement of Financial Position at 30 June 2017 Non-Current Assets 2017 2018 2019 Plant, Property and Equipment 425,000 405,000 399,000 Current Assets Short-term Investments 0 0 4,300 Inventory 89,300 90,000 70,500 Receivables 161,800 166,500 140,400 Total Assets 676,100 661,500 614,200 Equity and Liabilities Share Capital 100,000 100,000 100,000 Revaluation Reserve 29,000 65,800 82,350 Retained earnings 214,400 286,800 384,050 Total Equity 343,400 452,600 566,400 Non-current Liabilities Loan 260,000 170,000 10,000 Current Liabilities Trade Payables 67,700 36,000 35,000 Overdraft 5,000 2,900 2,800…Below are the financial statements for Aspirations Pty Ltd. Statement of Financial Position at 30 June 2017 Non-Current Assets 2017 2018 2019 Plant, Property and Equipment 425,000 405,000 399,000 Current Assets Short-term Investments 0 0 4,300 Inventory 89,300 90,000 70,500 Receivables 161,800 166,500 140,400 Total Assets 676,100 661,500 614,200 Equity and Liabilities Share Capital 100,000 100,000 100,000 Revaluation Reserve 29,000 65,800 82,350 Retained earnings 214,400 286,800 384,050 Total Equity 343,400 452,600 566,400 Non-current Liabilities Loan 260,000 170,000 10,000 Current Liabilities Trade Payables 67,700 36,000 35,000 Overdraft 5,000 2,900 2,800…Below are the financial statements for Aspirations Pty Ltd. Statement of Financial Position at 30 June 2017 Non-Current Assets 2017 2018 2019 Plant, Property and Equipment 425,000 405,000 399,000 Current Assets Short-term Investments 0 0 4,300 Inventory 89,300 90,000 70,500 Receivables 161,800 166,500 140,400 Total Assets 676,100 661,500 614,200 Equity and Liabilities Share Capital 100,000 100,000 100,000 Revaluation Reserve 29,000 65,800 82,350 Retained earnings 214,400 286,800 384,050 Total Equity 343,400 452,600 566,400 Non-current Liabilities Loan 260,000 170,000 10,000 Current Liabilities Trade Payables 67,700 36,000 35,000 Overdraft 5,000 2,900 2,800…
- Below are the financial statements for Aspirations Pty Ltd. Statement of Financial Position at 30 June 2017 Non-Current Assets 2017 2018 2019 Plant, Property and Equipment 425,000 405,000 399,000 Current Assets Short-term Investments 0 0 4,300 Inventory 89,300 90,000 70,500 Receivables 161,800 166,500 140,400 Total Assets 676,100 661,500 614,200 Equity and Liabilities Share Capital 100,000 100,000 100,000 Revaluation Reserve 29,000 65,800 82,350 Retained earnings 214,400 286,800 384,050 Total Equity 343,400 452,600 566,400 Non-current Liabilities Loan 260,000 170,000 10,000 Current Liabilities Trade Payables 67,700 36,000 35,000 Overdraft 5,000 2,900 2,800…Mvula Limited Statement of Financial Position as at: 28 February 2021 ASSETS Non-current assets Fixed/tangible assets Financial assets Fixed deposit Current assets Inventory Trade and other receivables Cash and cash equivalents Fixed deposit TOTAL ASSETS 4 320 350 EQUITY AND LIABILITIES Bay Holdings Limited: 30 June 2021.Required:Statement of financial position as at: 30 June 2021InformationBALANCE SHEET ACCOUNTSOrdinary share capital 2 648 000Retained income (1 Jul 2020) 490 000Shareholders for dividends 280 000Fixed deposit 60 000Mortgage bond 336 000Fixed/tangible assets (Carrying value) 4 021 000Debtors control 45 000Creditors…The following trial balance relates to Selt.plc for the year ended 31 December 2021: Equity shares of £1 each Share Premium Retained earnings at 1 January 2021 Property at cost Depreciation on property at 1 January 2021 Plant and equipment at cost Depreciation on plant and equipment at 1 January 2021 Inventory at 1 January 2021 Trade receivables Cash and cash equivalents Trade payables 5% Loan repayable 2026 Revenue Purchases Distribution costs Administrative expenses Research and development expenditure Loan Interest paid Dividend paid Further notes: £'000 34,800 22,800 Required: A Statement of Profit or Loss for the year ended 31 December 2021. A Statement of Financial Position as at 31 December 2021 4,900 4,000 6,840 155,000 22,050 12,750 19,600 300 4,000 287,040 £'000 56,000 2,000 7,780 3,200 4,500 1,560 12,000 200,000 287,040 2) 1) Inventory was valued at £3,800,000 on 31 December 2021. (This valuation is before note (4) below is considered). Property includes land valued at…
- The extract of statement of financial position for the year ended 30 June 2022 for Pears Ltd and Sapodille Ltd are as follows: Extract of statement of financial position for the year ended 30 June 2022 Equity and liabilities Pears Ltd Sapodille LtdEquity $ $ Share capital ($ 1 Each) 487,500 420,000Share premium 300,000 -Retained earnings 262,500 337,500LiabilitiesNon current liabilities 187,500 75,000Current liabilities 150,000 15,000 On 01 July…The following financial information relates to Cams Limited. Statement of Financial Position as at 31 December 2020 and 2021 2021 Ordinary share capital Retained earnings Property, plant and equipment Investments Debentures 12.5% Inventory Trade debtors Prepaid expenses Trade creditors Bank overdraft SARS (income tax) Shareholders for dividends R 400 000 000 Profit before interest and tax Depreciation on equipment Dividends received on investments Interest on dividends Income tax 55 230 000 165 000 20 000 124 000 37 000 25 21 000 000 5 000 30 000 Statement of comprehensive income for the year 31 December 2021 REGENT BUSINESS SCHOOL (RBS) ACADEMIC AND ASSESSMENT CALENDAR-JANUARY 2022 Note no. 1 for the year ended 31 December 2020 and 2021 Property, plant and equipment Land and building at cost Equipment at carrying value R 295 000 5000 195 000 2021 (R) 200 000 30.000 230 000 110 000 60 000 R 2020 120 000 28 500 1500 42 500 25 000 7 500 20 000 BACHELOR OF COMMERCE IN HUMAN RESOURCE…“The Balance Sheets of Harrow Ltd and its subsidiary Shallow Ltd as at 31st December 2020 showed the following: Harrow Ltd Harrow Ltd Shallow Ltd Shallow Ltd £000 £000 £000 £000 FIXED ASSETS Property, plant and equipment at Net Book Value 40,800 9,600 Investment in Shallow Ltd 16,800 57,600 9,600 CURRENT ASSETS Stock 12,200 6,400 Debtors 8,900 5,300 Bank 8,900 4,690 30,000 16,390 LESS CURRENT LIABILITIES Creditors (18,000) (4,390) - NET CURRENT ASSETS 12,000 12,000 69,600 21,600 CAPITAL AND RESERVES Share Capital 50p ordinary shares 24,000 14,400 Retained earnings at 1 January 2020 25,000 1,200 Retained earnings for year 20,600 6,000 45,600 7,200 69,600 21,600 “You have been given the…
- The following information relates to the draft financial statements of Jabo, Ltd: SUMMARISED STATEMENTS OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2021 2020 К000 К000 ASSETS Non-current assets 32,600 24,100 Property, plant and equipment Financial asset: equity investments 4,500 7,000 Current assets Inventories 10,200 7,200 Trade receivables 3,500 3,700 nil 1,400 Cash and cash equivalents Total assets 50,800 43,400 EQUITY AND LIABILITIES Equity 14,000 8,000 nil Equity shares of K1 each Share premium Revaluation reserve Retained earnings 2,000 2,000 3,600 13,000 10,100 29,000 23,700 Non-current liabilities Lease liability 7,000 6,900 Deferred tax 1,300 900 Current liabilities: Tax 1,000 1,200 Bank overdraft 2,900 nil Provision for product warranties 1,600 4,000 Lease liability 4,800 2,100 Trade payables 3,200 4,600 Total equity and liabilities 50,800 SUMMARISED STATEMENTS OF PROFIT OR LOSS FOR THE YEARS ENDED 30 SEPTEMBER: 2021 2020 К000 K000 Revenue 58,500 41,000 Cost of sales (46,500)…Prepare the Pro Forma Statement of Financial Position as at 31 December 2023 from the Statement ofFinancial Position and additional information provided below:INFORMATIONThe financial position of Gatti Limited as at 31 December 2022 is reflected the following statement:Statement of Financial Position as at 31 December 2022 R ASSETSNon-current assets 1 400 000Property, plant and equipment 1 200 000Fixed deposits 200 000Current assets 5 800 000Inventories 3 400 000Accounts receivable 2 000 000Cash and cash equivalents 400 000Total assets 7 200 000 EQUITY AND LIABILITIESEquity 4 680 000Ordinary share capital 3 600 000Retained earnings 1 080 000Non-current liabilities 720 000Long-term loan 720 000Current liabilities 1 800 000Accounts payable 1 800 000Total equity and liabilities 7 200 000 Additional informationThe following must be taken into account for 2023:■ Sales are forecast at R60 000 000, with a profit margin of 10% and a gross margin of 30%. Fifty percent(50%) of the sales is…The financial statements of a ltd and b ltd at 1 july 2020 are as follows. A Ltd B Ltd cash 25000 plant 60000 35000 Accumulated depreciation (15000) (120000) inventories 12000 24000 Account receivable 20000 36000 goodwill 0 10000 Total assets 102600 117000 Account payable 1800 17000 Net assets 100800 100000 Share capital Retained earnings 50000 81000 General reserve 8800 4000 Total equity 2000 15000 100800 100000 All the assets and liabilities of B Ltd were recorded for fair value except for the following assets. Plant 47000(Fair value) Inventory 22000(Fair value) A Ltd agreed to pay B Ltd $6000 in cash plus 16000 fully paid shares having a fair value of $7.5 per share. The business combination was completed and B ltd liquidation. Cash of liquidation amounted to $1200. A Ltd incurred legal and accounting costs amounted to $482 in relation to the…