X Ltd provides the following information in respect of the year ended 31 December 20X3: Profit...

  
 

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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)

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