Question: I am facing some difficulties,could anyone help out ? The remaining question,dont know if the income statement is in there. Statement of Financial Position as

I am facing some difficulties,could anyone help out ? I am facing some difficulties,could anyone help out ? The remaining question,dont
The remaining question,dont know if the income statement is in there.
know if the income statement is in there. Statement of Financial Position

Statement of Financial Position as at 31 December 2018 Assets 2018 GHS 2017 GHS 802.180 656,071 Non-current assets Property, plant and equipment Current assets Inventory Trade receivables Prepayment and accrued income Cash at bank and in hand 86 550 905 679 97,022 1.327 1.068,450 1,870630 807,712 45.729 68 363 1,008,354 1.664,425 258,178 651,721 909.899 258,178 410.591 668,769 Total assets Equity and liabilities Equity Ordinary shares Income surplus Non-current liabilities 10% loan stock Current liabilities Trade payables Accruals and deferred income Corporate taxes Other taxes 100.000 100.000 627,018 545,340 81.279 280,464 108.000 37,200 44.434 32,652 860,731 895.656 1,870,630 1.664,425 Total equity and liabilities il Required: a Calculate the following ratios: i. Profitability ratios - Return on Capital Employed, Return on Equity, Gross profit margin and Net profit margin Long term solvency and stability - Debt/Asset ratio, Gearing ratio and Interest cover Short-term solvency and liquidity - Current ratio and Acid test ratio iv. Efficiency (tumover ratios) - Account receivable collection period, Account payable payment period, Inventory turnover (times) (6 marks) Prepare a report addressed to the Chief Executive Officer, assessing the relative performance and financial position of Glory Lad for the year ended 31" December, 2018 (14 marks) (Total 20 marks) QUESTION 3 Undeniably, profitability is the ultimate goal of companies and readers of a company's financial statements are very much interested in the reported profit figure. The profit figure is achieved by the preparation of the statement of profit or loss and the statement of financial position. If the foregoing is the surplus is realised over the life of the leased property. The revaluation surplus will give rise to a deferred tax liability (see Note ). All amortisation and depreciation is charged to cost of sales. No amortisation or depreciation has yet been charged on any non-current asset for the year ended 30 September 2018. (c) In July 2018, the share price of Golden Ltd stood at GHS2.40 per share. On this date, Golden Ltd paid an interim dividend (included in administrative expenses) that was computed to give a dividend yield of 4%. (d) Closing inventory on 30 September 2018 was valued at GHS109.6m. (e) The equity investments had a fair value of GHS34.8m on 30 September 2018. During the year there were no purchases or disposals of any of these investments, (1) A provision for income tax for the year ended 30 September 2018 of GHS48.6m is required. At 306 September 2018, the tax base of Golden Lid's net assets was GHS30m less than their carrying amounts. This excludes the effects of the revaluation of the leased property. The income tax rate of Golden Ltd is 30% Required: Prepare the statement of profit or loss and other comprehensive income, the statement of financial position and the statement of changes in equity for Golden Ltd for the year ended 30 September 2018 (20 marks) Statement of Financial Position as at 31 December 2018 Assets 2018 GHS 2017 GHS 802.180 656,071 Non-current assets Property, plant and equipment Current assets Inventory Trade receivables Prepayment and accrued income Cash at bank and in hand 86 550 905 679 97,022 1.327 1.068,450 1,870630 807,712 45.729 68 363 1,008,354 1.664,425 258,178 651,721 909.899 258,178 410.591 668,769 Total assets Equity and liabilities Equity Ordinary shares Income surplus Non-current liabilities 10% loan stock Current liabilities Trade payables Accruals and deferred income Corporate taxes Other taxes 100.000 100.000 627,018 545,340 81.279 280,464 108.000 37,200 44.434 32,652 860,731 895.656 1,870,630 1.664,425 Total equity and liabilities il Required: a Calculate the following ratios: i. Profitability ratios - Return on Capital Employed, Return on Equity, Gross profit margin and Net profit margin Long term solvency and stability - Debt/Asset ratio, Gearing ratio and Interest cover Short-term solvency and liquidity - Current ratio and Acid test ratio iv. Efficiency (tumover ratios) - Account receivable collection period, Account payable payment period, Inventory turnover (times) (6 marks) Prepare a report addressed to the Chief Executive Officer, assessing the relative performance and financial position of Glory Lad for the year ended 31" December, 2018 (14 marks) (Total 20 marks) QUESTION 3 Undeniably, profitability is the ultimate goal of companies and readers of a company's financial statements are very much interested in the reported profit figure. The profit figure is achieved by the preparation of the statement of profit or loss and the statement of financial position. If the foregoing is the surplus is realised over the life of the leased property. The revaluation surplus will give rise to a deferred tax liability (see Note ). All amortisation and depreciation is charged to cost of sales. No amortisation or depreciation has yet been charged on any non-current asset for the year ended 30 September 2018. (c) In July 2018, the share price of Golden Ltd stood at GHS2.40 per share. On this date, Golden Ltd paid an interim dividend (included in administrative expenses) that was computed to give a dividend yield of 4%. (d) Closing inventory on 30 September 2018 was valued at GHS109.6m. (e) The equity investments had a fair value of GHS34.8m on 30 September 2018. During the year there were no purchases or disposals of any of these investments, (1) A provision for income tax for the year ended 30 September 2018 of GHS48.6m is required. At 306 September 2018, the tax base of Golden Lid's net assets was GHS30m less than their carrying amounts. This excludes the effects of the revaluation of the leased property. The income tax rate of Golden Ltd is 30% Required: Prepare the statement of profit or loss and other comprehensive income, the statement of financial position and the statement of changes in equity for Golden Ltd for the year ended 30 September 2018 (20 marks)

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