Solve this balance sheet picture by horizontal analysis and write why it's decrease and increase in percentage : SWEETS OF OMAN SAOGSTATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019ASSETSNote20192018RORONon-current assetsProperty, plant and equipmentIntangible assetsRight-of-use assetsDeferred tax asset44,868,2135,196,423537,96221,307438,019721,36937,9835,365,5635,255,713Current assetsInventories83,484,2974,320,093Accounts and other receivables9.3,871,1144,155,827Cash and bank balances1083,834176,2297,439,2458,652,149Total assets12,804,80813,907,862= ===EQUITY AND LIABILITIESEquityShare capital11700,000700,000Legal reserveRetained earnings233,3333,603,81512233,3333,684,073Total equity4,617,4064,537,148LiabilitiesNon-current liabilitiesTerm loan131,107,6161,807,616Lease liabilities14406,494Employees' end of service benefits15523,318497,5092,037,4282,305,125Current liabilitiesTerm loan13700,000700,000Lease liabilties1442,6114,008,963Bank borrowings164,940,102Accounts and other payables171,398,4001,425,4876,149,9747,065,589Total liabilities8,187,4029,370,714Total equity and liabilities12,804,80813,907,862Net assets per share180.6600.648These financial statements were approved and authorised for issue by the Board of Directors onand signed on their behalf by:CHAIRMANDIRECTORThe notes on pages 10 to 39 form part of these financial statements.Auditor's report: pages 1 - 5Page: 6

A comparative balance sheet shows the financial position of the same company at two or more…

Answered: why it's decrease and increase in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Solve this balance sheet picture by horizontal analysis and write why it's decrease and increase in percentage :

SWEETS OF OMAN SAOG
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019
ASSETS
Note
2019
2018
RO
RO
Non-current assets
Property, plant and equipment
Intangible assets
Right-of-use assets
Deferred tax asset
4
4,868,213
5,196,423
5
37,962
21,307
438,019
7
21,369
37,983
5,365,563
5,255,713
Current assets
Inventories
8
3,484,297
4,320,093
Accounts and other receivables
9.
3,871,114
4,155,827
Cash and bank balances
10
83,834
176,229
7,439,245
8,652,149
Total assets
12,804,808
13,907,862
= ===
EQUITY AND LIABILITIES
Equity
Share capital
11
700,000
700,000
Legal reserve
Retained earnings
233,333
3,603,815
12
233,333
3,684,073
Total equity
4,617,406
4,537,148
Liabilities
Non-current liabilities
Term loan
13
1,107,616
1,807,616
Lease liabilities
14
406,494
Employees' end of service benefits
15
523,318
497,509
2,037,428
2,305,125
Current liabilities
Term loan
13
700,000
700,000
Lease liabilties
14
42,611
4,008,963
Bank borrowings
16
4,940,102
Accounts and other payables
17
1,398,400
1,425,487
6,149,974
7,065,589
Total liabilities
8,187,402
9,370,714
Total equity and liabilities
12,804,808
13,907,862
Net assets per share
18
0.660
0.648
These financial statements were approved and authorised for issue by the Board of Directors on
and signed on their behalf by:
CHAIRMAN
DIRECTOR
The notes on pages 10 to 39 form part of these financial statements.
Auditor's report: pages 1 - 5
Page: 6

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Expert Solution

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

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.

Similar questions