From the following information of Albert Company as on 31st December 2018: $25,00,000 Noncurrent asset Working...

 

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From the following information of Albert Company as on 31st December 2018: $25,00,000 Noncurrent asset Working capital Current ratio Non-current assets turnover ratio Gross profit Trade receivable turnover ratio Loss on sale of plant assets Trade payable turnover ratio Interest expenses Income tax Inventory turnover ratio Net income General Reserve Capital gearing ratio Depreciation expenses Amortization on patent Doubtful expenses Derecognizing expenses 10,00,000 2:1 8 times 20% on sales 10 times $10,000 15 times $50,000 20% 10 times 10% of turn over 15% of the net income 1:1 $10,000 $8.000 $5,000 $15,000 Required: A. Prepare a statement of Financial Performance for the year ended 31 December 2018 B. Prepare a Statement of Financial Position as of 31 December 2018. From the following information of Albert Company as on 31st December 2018: $25,00,000 Noncurrent asset Working capital Current ratio Non-current assets turnover ratio Gross profit Trade receivable turnover ratio Loss on sale of plant assets Trade payable turnover ratio Interest expenses Income tax Inventory turnover ratio Net income General Reserve Capital gearing ratio Depreciation expenses Amortization on patent Doubtful expenses Derecognizing expenses 10,00,000 2:1 8 times 20% on sales 10 times $10,000 15 times $50,000 20% 10 times 10% of turn over 15% of the net income 1:1 $10,000 $8.000 $5,000 $15,000 Required: A. Prepare a statement of Financial Performance for the year ended 31 December 2018 B. Prepare a Statement of Financial Position as of 31 December 2018.

Answer rating: 100% (QA)

Answer STEP1 Step2 III Step 3 Statement of financial position Statement of financial posi... View the full answer