Study the information provided below and answer the following questions. 1.1 Were there any additions to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Study the information provided below and answer the following questions. 1.1 Were there any additions to or disposals of property, plant and equipment during the financial year ended 31 December 2022? Motivate your answer. Comment on the decrease in retained earnings. Comment on FIVE (5) other significant changes that occurred in the company's financial position during 2022. 1.2 1.3 1.4 Apart from the Statement of Financial Position and ratio analysis, what other financial information should be considered when commenting on the financial health of the company? (3 marks) (3 marks) (10 marks) (4 marks) INFORMATION AMC Limited Statement of Financial Position as at 31 December: ASSETS Non-current assets Property, plant and equipment (Cost) Accumulated depreciation Carrying value Investments Current assets Inventories Accounts receivable Cash EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Long-term loan Current liabilities Accounts payable 2022 R ? ? (2 000 000) ? 10 000 000 7 000 000 400 000 5 800 000 800 000 25 200 000 12 000 000 3 000 000 9 000 000 10 000 000 10 000 000 3 200 000 3 200 000 25 200 000 2021 R ? ? (1 400 000) ? 12 000 000 4 890 000 100 000 4 000 000 790 000 25 690 000 20 290 000 2 400 000 17 890 000 3 400 000 3 400 000 2 000 000 2 000 000 25 690 000 [OFFICIAL] Study the information provided below and answer the following questions. 1.1 Were there any additions to or disposals of property, plant and equipment during the financial year ended 31 December 2022? Motivate your answer. Comment on the decrease in retained earnings. Comment on FIVE (5) other significant changes that occurred in the company's financial position during 2022. 1.2 1.3 1.4 Apart from the Statement of Financial Position and ratio analysis, what other financial information should be considered when commenting on the financial health of the company? (3 marks) (3 marks) (10 marks) (4 marks) INFORMATION AMC Limited Statement of Financial Position as at 31 December: ASSETS Non-current assets Property, plant and equipment (Cost) Accumulated depreciation Carrying value Investments Current assets Inventories Accounts receivable Cash EQUITY AND LIABILITIES Equity Ordinary share capital Retained earnings Non-current liabilities Long-term loan Current liabilities Accounts payable 2022 R ? ? (2 000 000) ? 10 000 000 7 000 000 400 000 5 800 000 800 000 25 200 000 12 000 000 3 000 000 9 000 000 10 000 000 10 000 000 3 200 000 3 200 000 25 200 000 2021 R ? ? (1 400 000) ? 12 000 000 4 890 000 100 000 4 000 000 790 000 25 690 000 20 290 000 2 400 000 17 890 000 3 400 000 3 400 000 2 000 000 2 000 000 25 690 000 [OFFICIAL]
Expert Answer:
Answer rating: 100% (QA)
11 There were no additions to or disposals of property plant and equipment during the financial year ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Making the assumption of no compounding interest, suppose you purchase a perpetuity bond from CosoNostra Pizza Inc. for $3,000 with an annual coupon rate of 3% . Specify all answers to the nearest...
-
Study the information given below and answer the following questions: (25 Marks) 1.1 Calculate the Payback Period of both machines (answers expressed in years, months and days). (5 marks) 1.2 Which...
-
You are required to study the information provided below concerning a Namibian listed company called Deep Yellow Limited, that operates in the mining industry. You should compile a report based on...
-
Your company has just been names in as a defendant in a lawsuit because of an accident. The plaintiff is suing for $400,000 in damages. You have contacted legal counsel and the attorneys have advised...
-
A block of weight W is suspended from a 25-in.-long cord and two springs of which the unstretched lengths are 22.5 in. Knowing that the constants of the springs are 9 lb/kAB = in. and kAD = 3 lb/in.,...
-
Isamy has retired, she wants to start taking monthly withdrawals from her IRA that has been paying 6% interest. If she has saved a total of $500,000, how much money should she take out each month to...
-
Consider the house price data in Table B.4. a. Fit a multiple regression model relating selling price to all nine regressors. b. Test for significance of regression. What conclusions can you draw? c....
-
Recall from Chapter 13 that Hincapie Co. (a specialty bike-accessory manufacturer) is expecting growth in sales of some products targeted to the low-price market. Hincapie is contemplating a...
-
Caleb, a high school wood and metal work teacher, has provided details of the following transactions during the year ended 3 0 June 2 0 2 3 : - Recieved salary of $ 1 0 4 , 0 0 0 for the school he is...
-
The following is information for Dundee Realty: 1. Balance per the bank statement dated October 31, 2023, is $26,830. 2. Balance of the Cash account on the company books as of October 31, 2023, is...
-
Draw the Production Systems : Planning , Analysis and Control , In Each of the Systems , Identify some of the OM processes that will be categorized under Planning , Analysis and Control?
-
What is the difference between emphasis achieved with mechanical means as opposed to emphasis achieved with stylistic devices?
-
On a trip to the _____________, _____________ visited the Statue of Liberty. a. East Coast, uncle Hans b. East Coast, Uncle Hans c. east coast, uncle Hans For the above sentence, write the correct...
-
One _____________ moving testimony caused the jury _____________ enough doubt to acquit. a. witnesses, members b. witnesss, members c. witnesss, members For the above sentence, write the correct...
-
Twitter may not be the first social media site you consider for posting your rsum. Savvy candidates, however, know that Twitter has one major advantage over more obvious sites such as LinkedIn and...
-
a. The deadline for the project was moved up three days. Which means that our team must work overtime. b. Tyrese supervises shipping, Gabriela manages the Legal Department. c. No stock prices were...
-
AIM: Write a program to read marks from keyboard and your program should display equivalent grade according to following table(if else ladder) Marks Grade 100-80 Distinction 79-60 First Class 59-40...
-
Vectors are drawn from the center of a regular n-sided polygon in the plane to the vertices of the polygon. Show that the sum of the vectors is zero.
-
Jim (age 50) and Martha (age 49) are married with three dependent children. They file a joint return for 2012. Their income from salaries totals $50,000, and they received $10,000 in taxable...
-
Mike sells his home to Jane on April 2, 2012. Jane pays the property taxes covering the full calendar year in October, which amount to $2,500. How much may Mike and Jane each deduct for property...
-
Kent Pham, CPA, is a 45-year-old single taxpayer living at 169 Trendie Street, La Jolla, CA 92037. His Social Security number is 865-68-9635. In 2012, Kent's W-2 as the controller of a local...
-
Figure P17.65 shows the light intensity on a screen behind a single slit. The wavelength of the light is \(500 \mathrm{~nm}\) and the screen is \(1.0 \mathrm{~m}\) behind the slit. What is the width...
-
If sunlight shines straight onto a peacock feather, the feather appears bright blue when viewed from \(15^{\circ}\) on either side of the incident beam of sunlight. The blue color is due to...
-
The shiny surface of a CD is imprinted with millions of tiny pits, arranged in a pattern of thousands of essentially concentric circles that act like a reflection grating when light shines on them....
Study smarter with the SolutionInn App