X Ltd provides the following information in respect of the year ended 31 December 20X3: Profit...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
X Ltd provides the following information in respect of the year ended 31 December 20X3: Profit for the period: £850,000 Ordinary share capital at 1.1.X3 and 31.12.X3: 2m shares at £1 per share: £2,000,000 Share premium at 1.1.X3 and 31.12.X3: £250,000 X ltd Retained earnings at 1.1.X3: £970,000 Dividend declared at the year-end: £450,000 10% debentures (payable in 20X8): £800,000 What will be the figure for total equity in the Statement of Financial Position as at 31 December 20X3? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. b с £2,250,000 £2,820,000 £3,620,000 d £3,820,000 The following Statements of Cash Flows are provided for two companies, Company A and Company B, for the period ended 31 December 20X7. Which of the statements below is TRUE? a Company A and Company B - statements b с Cash flows from operating activities Profit/loss before tax Finance cost Investment income Depreciation charge Loss/(profit) on sale of non-current assets (Increase)/decrease in inventories (Increase)/decrease Increase/(decrease) in trade and other payables Cash generated from operations Interest paid Tax paid Net cash from operating activities in trade and other receivables Cash flows from investing activities Purchase of property, plant and equipment Proceeds from sales of property, plant and equipment Interest received Net cash used in investing activities Cash flows from financing activities Issue of ordinary shares Issue of non-current interest-bearing borrowings Dividends paid Net cash used in financing activities Net change in cash and cash equivalents Cash and cash equivalents brought forward Cash and cash equivalents carried forward Company B has rewarded its shareholders during the period COMPANY A Company A has invested in non-current assets during the period Company B has a negative cash balance at the end of the period Company A has a positive cash balance at the end of the period £ 500,000 20,000 0 1,000 (15,000) (40,000) (10,000) 456,000 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. (20,000) (80,000) 356,000 OOOO 0 0 (400,000) (400,000) (44,000) 220,000 176,000 COMPANY B £ 480,000 10,000 (2,000) 40,000 4,000 (1,000) 2,000 (2,000) 531,000 (10,000) (70,000) 451,000 (100,000) 20,000 2,000 (78,000) 0 80,000 0 80,000 453,000 110,000 563,000 Barney runs a business. He buys £5,000 of stock from his supplier, agreeing to pay his supplier in 60 days' time. Which of the following entries correctly records the transaction? a 6 Barney runs a business C d Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. A. B. Trade Payables (Statement of Financial Position) C. Purchases (Income Statement) D. Cash (Statement of Financial Position) option A option B Debit Purchases (Income Statement) option C option D Credit Trade Payables (Statement of Financial Position) Purchases (Income Statement) Cash (Statement of Financial Position) Purchases (Income Statement) X Ltd provides the following information in respect of the year ended 31 December 20X3: Profit for the period: £850,000 Ordinary share capital at 1.1.X3 and 31.12.X3: 2m shares at £1 per share: £2,000,000 Share premium at 1.1.X3 and 31.12.X3: £250,000 X ltd Retained earnings at 1.1.X3: £970,000 Dividend declared at the year-end: £450,000 10% debentures (payable in 20X8): £800,000 What will be the figure for total equity in the Statement of Financial Position as at 31 December 20X3? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. b с £2,250,000 £2,820,000 £3,620,000 d £3,820,000 The following Statements of Cash Flows are provided for two companies, Company A and Company B, for the period ended 31 December 20X7. Which of the statements below is TRUE? a Company A and Company B - statements b с Cash flows from operating activities Profit/loss before tax Finance cost Investment income Depreciation charge Loss/(profit) on sale of non-current assets (Increase)/decrease in inventories (Increase)/decrease Increase/(decrease) in trade and other payables Cash generated from operations Interest paid Tax paid Net cash from operating activities in trade and other receivables Cash flows from investing activities Purchase of property, plant and equipment Proceeds from sales of property, plant and equipment Interest received Net cash used in investing activities Cash flows from financing activities Issue of ordinary shares Issue of non-current interest-bearing borrowings Dividends paid Net cash used in financing activities Net change in cash and cash equivalents Cash and cash equivalents brought forward Cash and cash equivalents carried forward Company B has rewarded its shareholders during the period COMPANY A Company A has invested in non-current assets during the period Company B has a negative cash balance at the end of the period Company A has a positive cash balance at the end of the period £ 500,000 20,000 0 1,000 (15,000) (40,000) (10,000) 456,000 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. (20,000) (80,000) 356,000 OOOO 0 0 (400,000) (400,000) (44,000) 220,000 176,000 COMPANY B £ 480,000 10,000 (2,000) 40,000 4,000 (1,000) 2,000 (2,000) 531,000 (10,000) (70,000) 451,000 (100,000) 20,000 2,000 (78,000) 0 80,000 0 80,000 453,000 110,000 563,000 Barney runs a business. He buys £5,000 of stock from his supplier, agreeing to pay his supplier in 60 days' time. Which of the following entries correctly records the transaction? a 6 Barney runs a business C d Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. A. B. Trade Payables (Statement of Financial Position) C. Purchases (Income Statement) D. Cash (Statement of Financial Position) option A option B Debit Purchases (Income Statement) option C option D Credit Trade Payables (Statement of Financial Position) Purchases (Income Statement) Cash (Statement of Financial Position) Purchases (Income Statement)
Expert Answer:
Answer rating: 100% (QA)
X l td What will be the figure for total equity in the Statement of Financial Position as at 31 December 20X3 ANSWER d 3820000 WORKING Total equity Sh... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A passenger on a flight was greeted by a flight attendant whom he had never met and told that she liked his smile and that he would be her #1. During the flight, the flight attendant hit the...
-
The airline industry defines an on time flight as one that arrives within 15 minutes of its scheduled time. The following table shows the number of on time and late flights leaving Philadelphia and...
-
Required: 1 (20 pts) Conduct a 2-year weighted annual sales forecast for the years 2023-2027. Place your results on the Sales line of the Milestone 1 Sales Forecast tab in the highlighted area. 2 (20...
-
Determine the largest force P that can be exerted at the jaws of the punch without exceeding a stress of 16 ksi on section m-n of the frame.
-
The process for statistical inference described in Section 7.3 consists of five steps: a. What are the five steps in the process for estimation problems? b. Explain how the first step differs for...
-
Kevin takes home the company-owned laptop computer that he uses in his office. He has no intention of returning it. Kevin has committed a. larceny. b. embezzlement. c. robbery. d. none of the above.
-
For a test of H0: 1 = 2 versus H1: 1 2, the sample sizes were n1 = 15 and n2 = 25. How many degrees of freedom are there for the test statistic? Use the simple method.
-
The accompanying chart shows the qualitative characteristics of useful accounting information. Fill in theblanks. Enhancing Qualities Fundamental Qualities Usefulness Relevance Consistency (a) (e)...
-
A laser tag center is expected to produce regular annual cash flows of 11,590 dollars with the first regular cash flow expected later today and the last regular cash flow expected in 9 years from...
-
What are the triads using roman numerals and figured bass numbers for this excerpt? 30-3. Use Roman numerals and figured bass numbers to identify triads in these works. a. Schubert, "Death and the...
-
(a) Give the geometric interpretation of the secant method for approximating the solution of the root equation f(x) = 0 and illustrate your explanation with a graphical description. (b) Use the...
-
1. Given f(x) = 5-10x2 2x-8 All horizontal intercepts: 9 Vertical intercept: find the following: Horizontal asymptote: Vertical asymptote(s): Domain:
-
What is the impact of mindfulness-based stress reduction (MBSR) techniques on neuroplasticity, and how do they contribute to long-term stress management ?
-
Suppose that a three stage process had reliability ratings of .7, .8, and .9 at each station and that a failure at any station represented a failure for the entire process. If each station is given a...
-
In 2023, Whispering Winds receives the raw materials and pays the required $2,000,000. The raw materials now have a market value of $1,808,000. Prepare the entry to record the purchase. (Credit...
-
(a) Find basic solutions of homogeneous system with coefficient matrix A, and ex- press every solution as a linear combination of the basic solutions, where A (b) Evaluate the determinant 16x2x + 3x...
-
Read what color is your parachute? 1. What did the flower exercise tell you about the career that you might want to pursue? 2. What is the advantage of informational interviewing over traditional...
-
(a) Water flows through the nozzle of a garden hose. Find an expression for m in terms of line pressure P 1 , ambient pressure P 2 , inside hose diameter D 1 , and nozzle outlet diameter D 2 . Assume...
-
Now that you have learned a little bit about what the new health insurance law (the PPACA) entails, are you in favor of or opposed to this law? Why?
-
A woman with four children (6-year-old triplets and an 11-year-old) was passed over for promotion in favor of another woman with two children (a 10-year-old and a 15-year-old). One of the three...
-
Would you be inclined to take legal action against your employer if you felt strongly that your legal rights had been violated? Why or why not?
-
Refer to exercise E2-28 of Chapter 2. Start from the trial balance and the posted T-accounts prepared at January 18, 2020. Later in January, the business completed these transactions: Requirements 1....
-
Refer to exercise E3-31. Requirements 1. After solving exercise E3-30, use the data in that exercise to prepare Yosaf Portraits Ltd.'s classified balance sheet at December 31, 2020. Use the report...
-
Satterfield Corporation reported the following current accounts at Deccmber 31, 2019 (amounts in thousands): During January 2020, Satterfield completed these selected transactions: - Sold services on...
Study smarter with the SolutionInn App