The following balances have been extracted from the books of the limited companies Alma, Bella, Carla, Deborah
Question:
The following balances have been extracted from the books of the limited companies Alma, Bella, Carla, Deborah and Eloise at 30 April 2019. Using the statement of financial position format presented in this chapter, draw up the statement of financial positions for the five companies at 30 April 2019.
Transcribed Image Text:
Share capital Cash at bank Goodwill Inventory Trade payables Plant and machinery Trade receivables Bank overdraft Loans due on 30 April 2026 Loans due by 30 April 2020 Land and buildings Taxation payable Cash in hand Trademarks Motor vehicles Tax repayment due Retained earnings Share premium Alma £000 1,000 1,000 1,450 2,000 1,750 800 1,000 200 4,500 540 10 - 2,770 1,500 Bella £000 5,000 800 - 700 4,000 9,500 3,000 10,000 400 17,100 1,100 25 1,500 4,625 7,500 Carla £000 2,500 - 400 800 1,750 3,750 2,750 1,250 1,500 300 10,200 800 15 200 1,950 7,465 4,500 Deborah £000 3,000 550 250 750 5,600 4,250 2,950 - 8,750 - 8 100 1,250 250 Eloise £000 4,500 200 500 900 5,800 5,000 3,100 - 15,000 12 450 1,600 800 5,508 8,262 5,000 9,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (4 reviews)
Notes 1 There are no intangible assets in Alma so the total here is zero 2 Plant and machinery 2000 land and buildings 4500 6500 3 Total assets noncurrent assets current assets so 6500 2760 9260 4 Ban...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Question 1 This question has two parts, (A) and (B). Answer both parts. 100% Liverpool plc is a company that manufactures a number of different types of electrical goods and has a year end of 31...
-
(a) The following figures have been extracted from the books of account of Frankie Limited at 31 December 2019. Required Using the statement of financial position format presented in this chapter,...
-
The company is FORD( the car company) Based on the information contained in the most recent financial statements, compute the following ratios for your company for the past 2 years. Compute each year...
-
Let (x) = x - 3, g(x) = x, h(x) = x 3 , and j(x) = 2x. Express each of the functions as a composite involving one or more of , g, h, and j. a. y = x - 3 b. y = 2x c. y = x 1/4 d. y = 4x e. y = (x -...
-
Given the following cash flows for two mutually exclusive projects (A and B), which project should be chosen? Assume that the required rate of return of both projects is11%. Year Project S...
-
Consumers increasingly make food purchases based on nutrition values. Consumer Reports examined the calorie content of two kinds of hot dogs: meat (usually a mixture of pork, turkey, and chicken) and...
-
Interpret the following information regarding Maness Corporations free cash flows and financing cash flows. Maness Corporation Free Cash Flows and Financing Cash Flows Free cash flows Operating...
-
Sid Davidson is the personnel director of Babson and Willcount, a company that specializes in consulting and research. One of the training programs that Sid is considering for the middle-level...
-
1. How the singly linked lists can be represented? 2. How the doubly linked list can be represented? 3. What are benefits of ADT? 4. When singly linked list can be represented as circular linked...
-
The Warren Buffet Investment Clubs board is composed of 10 students from a new school of management. The club members also take care of investing the students pool of funds. As part of their annual...
-
Maria runs a small corner shop. Her statement of financial position at 31 October 2019 is shown below. The following transactions took place in the first week of November 2019: Trade payables of...
-
What does it mean to say that it is possible to have perfect internal controls and materially incorrect financial statements?
-
Can a cost be both a direct cost and an indirect cost?
-
M11 L1 - Activity 1: Static Electricity Investigation Lab Static Electricity Investigation Part 1: Electric Charges Lab Directions: Complete the Static Electricity Investigation Part 1: Electric...
-
Find the inverses of the matrices in Exercises 1-4. 8 3 [ 5 2 1. 2. 3 -3 8 3. [-9 [ -7 5. Verify that the inverse you found in Exercise 1 is correct. 6. Verify that the inverse you found in Exercise...
-
A company has two manufacturing departments Shaping and Painting. The company uses job - order costing and provides the following estimated overhead costs for the month of May: Beginning - of -...
-
1232 Mev. a) b) Find the ratio of cross sections for the following reactions, when the total CM energy is +pK) + (0) +pK +
-
In June 2013 Jason King completed his audit of a 2012 grant that a city made to Field of Dreams, a private, not-for-prot organization that sponsors recreational programs for disadvantaged teens. In...
-
Read the following description and Write a response of it. The discretion of public administrators can be decreased, but not altogether eliminated. Officials will use their discretion in any given...
-
Which of the following activities are financing activities? (a) Payment of accounts payable. (b) Payment of interest on bonds payable. (c) Sale of common stock. (d) Sale of preferred stock at a...
-
Does depreciation expense affect net cash flow? Explain.
-
If Best Company sold land that cost $4,200 at a $500 gain, how much cash did it collect from the sale of land?
-
Hotel Company Revenues $ 10,548 Cost of sales 8,147 Interest expense 1,245 Net income 854 Cash 445 Total assets 9,550 Total liabilities 6,772 Shareholders' equity $ 2,778 Given the information for...
-
Proprietors' Income $ 20 Compensation of Employees 300 Consumption of Fixed Capital 15 Gross Investment 80 Rents 10 Interest 20 Exports 30 Imports 50 Corporate Profits 25 Taxes on Production and...
-
What is an insurance premium? Why do premiums vary? briefly explain the term insurance premim.
Study smarter with the SolutionInn App