The balance sheet for Cremore Ltd at 31 December 20X3 is given below (000): Required: Using the
Question:
The balance sheet for Cremore Ltd at 31 December 20X3 is given below (£000):
Required:
Using the above information, calculate the gearing adjustment percentage:
Transcribed Image Text:
Plant and machinery Cost Depreciation Current assets Stock Debtors Cash Current liabilities Trade creditors Net current assets 10% loan stock Financed by: Ordinary shares Reserves Current cost reserve 210 100 145 455 (80) 20X3 800 (320) 480 375 (200) 655 250 370 35 655 130 60 50 240 (60) 20X2 800 (160) 640 180 (200) 620 250 340 30 620
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To calculate the gearing adjustment percentage we need to determine the gearing ratio for both 20X3 ...View the full answer
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Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9780273693109
10th Edition
Authors: Frank Wood, Alan Sangster
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