Solve this balance sheet picture by horizontal analysis and write why it's decrease and increase in percentage SALALAH MILLS CO (S.A.O.G)BALANCE SHEET AS OF 31 MAR2021ASSETS31/03/202031/03/2019Current Assets:RORO.Cash at bank and in hand3,361,3995,589,478Receivables and prepayments10,330,78313,181,608Investments397,556386,549Inventories20,355,90917,949,415Total Current Assets34,445,64737,107,051Non-current Assets:Property, plant and equipment29,488,32629,434,135Total Non-current Assets29,488,32629,434,135TOTAL ASSETS63,933,97366,541,186LIABILITIES AND EQUITYCurrent Liabilities:Bank borrowings18,227,59825,113,572Payables and accruals9,092,7432,519,605Lease liability under IFRS- current82,42460,000Term loans, current maturities215,652Provision for Income Tax470,200216,866Total Current Liabilities27,872,96328,125,695Non-current Liabilities:Bank borrowings1,558,8575,000,000Lease liability under IFRS897,820540,217Deferred tax liability1,145,6111,023,123 Total Non-current Liabilities3,602,2886,563,340Total Liabilities31,475,25134,633,396Shareholders' Equity:Share capital4,996,3064,996,306Share Premium3,587,7823,587,782Legal reserve2,089,1032,089,103general reserve2,891,8262,891,826Retained earnings18,893,70418,342,772Total Shareholders' equity32,458,72231,907,789TOTAL LIABILITIES AND EQUITY63,933,97366,541,186Net Assets Per Share0.6500.639

Assets 31/03/2020 31/03/2019 Changing percentage and reasoan Current Assets:…

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

SALALAH MILLS CO (S.A.O.G)
BALANCE SHEET AS OF 31 MAR
2021
ASSETS
31/03/2020
31/03/2019
Current Assets:
RO
RO.
Cash at bank and in hand
3,361,399
5,589,478
Receivables and prepayments
10,330,783
13,181,608
Investments
397,556
386,549
Inventories
20,355,909
17,949,415
Total Current Assets
34,445,647
37,107,051
Non-current Assets:
Property, plant and equipment
29,488,326
29,434,135
Total Non-current Assets
29,488,326
29,434,135
TOTAL ASSETS
63,933,973
66,541,186
LIABILITIES AND EQUITY
Current Liabilities:
Bank borrowings
18,227,598
25,113,572
Payables and accruals
9,092,743
2,519,605
Lease liability under IFRS- current
82,424
60,000
Term loans, current maturities
215,652
Provision for Income Tax
470,200
216,866
Total Current Liabilities
27,872,963
28,125,695
Non-current Liabilities:
Bank borrowings
1,558,857
5,000,000
Lease liability under IFRS
897,820
540,217
Deferred tax liability
1,145,611
1,023,123

Total Non-current Liabilities
3,602,288
6,563,340
Total Liabilities
31,475,251
34,633,396
Shareholders' Equity:
Share capital
4,996,306
4,996,306
Share Premium
3,587,782
3,587,782
Legal reserve
2,089,103
2,089,103
general reserve
2,891,826
2,891,826
Retained earnings
18,893,704
18,342,772
Total Shareholders' equity
32,458,722
31,907,789
TOTAL LIABILITIES AND EQUITY
63,933,973
66,541,186
Net Assets Per Share
0.650
0.639

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.

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