Current Assets Accounts Receivable $137,808 Cash at Bank $40,000 Inventory $18,200 $196,008 Non Current Assets Plant and
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Current Assets Accounts Receivable Cash at Bank $137,808 $40,000 Inventory $18,200 $196,008 Non Current Assets Plant and Equipment (at cost) $140,000 Accumulated Depreciation on Plant & Equipment $52,000 $92,000 Office Equipment (at cost) $65,000 Accumulated Depreciation on Office Equipment $20,000 $45,000 $137,000 Total Assets $329,008 Current Liabilities Trade Creditors $45,300 GST Payable $8,000 Non Current Liabilities 5.4% Loan (due in 2 years) $110,000 Total Liabilities $163,300 Net Assets $165,708 Proprietors Equity Capital $115,200 Accumulated Profits $50,508 $165,708 Data and Supporting Information Sales Sales (in dollars excluding GST). Actual January February March $75,000 78,000 85,200 Forecast April $86,100 May 90,500 June 87.500 July 85,000 Current Assets Accounts Receivable Cash at Bank $137,808 $40,000 Inventory $18,200 $196,008 Non Current Assets Plant and Equipment (at cost) $140,000 Accumulated Depreciation on Plant & Equipment $52,000 $92,000 Office Equipment (at cost) $65,000 Accumulated Depreciation on Office Equipment $20,000 $45,000 $137,000 Total Assets $329,008 Current Liabilities Trade Creditors $45,300 GST Payable $8,000 Non Current Liabilities 5.4% Loan (due in 2 years) $110,000 Total Liabilities $163,300 Net Assets $165,708 Proprietors Equity Capital $115,200 Accumulated Profits $50,508 $165,708 Data and Supporting Information Sales Sales (in dollars excluding GST). Actual January February March $75,000 78,000 85,200 Forecast April $86,100 May 90,500 June 87.500 July 85,000
Expert Answer:
Related Book For
Posted Date:
Students also viewed these finance questions
-
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
-
The following financial statements relate to GetItDone PLC, which operates a wholesale carpet business. (Please note: The information in red has been updated from E 3.1. However, the rest remains the...
-
The following financial statements were provided by Zytel Communications Co. The owner, Daniel Zytel, is meeting with an investor who is interested in investing in the company. The investor has...
-
Questions for discussion: read the material in Exhibit 3.3 below and answer the three questions presented at the end of the exhibit. EXHIBIT 3.3 WHAT IS THE MOST DESIRABLE LEVEL OF POLLUTION?...
-
Levine Manufacturing pays its production managers a bonus based on the company's profitability. During the two most recent years, the company maintained the same cost structure to manufacture its...
-
Choose a local example of a retailer and explain how they could avoid terminal decline and reset themselves into a new growth period.
-
A process is said to be uniform if there is (a) No change with time (b) No change with location over a particular region (c) Both(a) and (b) (d) Neither (a) nor (b).
-
In manufacturing its products, Trevano Corp. adds all direct material at the beginning of the production process. The companys direct labor and overhead are considered to be continuously at the same...
-
PUC Enterprise guarantees that it will maintain a minimum cash balance of $10,000 at the end of each month as part of a credit agreement with its bank. Consequently, the bank has agreed that the...
-
The analysts at Keppelcorp have determined that at a price of Sp, the company will sell z widgets where x = 2050-25p Using the price you found in the previous question which maximizes revenue,...
-
A well was drilled offshore that discovered proved reserves. The well was classified as an exploratory-type stratigraphic test well. After proving the well, it was decided that additional drilling...
-
Which costs are to be included in the disclosure of results of operations of oil and gas producing activities?
-
In reporting proved oil and gas reserves, how are geographic areas determined?
-
List and briefly discuss the three basic types of drilling contracts.
-
Discuss the disclosures required for exploratory well costs that continue to be capitalized for a period longer than one year beyond completion of drilling.
-
Maxwell is a 50 percent partner in M&P Associates. Pam, Maxwell's daughter, owns the other 50 percent interest in the partnership. During the current tax year, Maxwell sells ordinary income property...
-
Research corporate acquisitions using Web resources and then answer the following questions: Why do firms purchase other corporations? Do firms pay too much for the acquired corporation? Why do so...
-
The United Football League (UFL), a North American professional football league, has been in work stoppage since July 1, 2013, immediately after the six-week training camp ended. Faced with stalled...
-
Ludowicz acquired 20% of the common shares of Sitar on January 1, 2012 for $22,000. At this date, all the identifiable assets and liabilities of Ludowicz were recorded at fair value. An analysis of...
-
On December 31, 2011, Perseus Ltd. acquired 64% of the common shares of Miram Ltd. for $576,000. The carrying amount of Mirams identiable net assets at the acquisition date was $735,000. Mirams...
-
Using Rayeigh's method, determine the fundamental natural frequency of the system shown in Fig. 8.42. Disc, mass moment of inertia 5 kg-m Steel shaft, dia. 5 cm + O 0.8 m -0.2 m- FIGURE 8.42...
-
Solve Problem 8.73 using the Rayleigh-Ritz method with the mode shape \[U(x)=c_{1} \sin \frac{\pi x}{2 l}+c_{2} \sin \frac{3 \pi x}{2 l}\]
-
Find the first two natural frequencies of a fixed-fixed uniform string of mass density \(ho\) per unit length stretched between \(x=0\) and \(x=l\) with an initial tension \(P\). Assume the...
Study smarter with the SolutionInn App