The following financial information was obtained from the books of Boris Johnson ple for the year...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following financial information was obtained from the books of Boris Johnson ple for the year 2021 Non Current Assets. Goodwill Tangible Assets Long Term Investments Current Assets Stock Debtors Short Term Investments Bank Cash Total Assets Capital and Reserves Share Capital Share Premium General Reserves Revaluation Reserves Retained Earnings Non Current Liabilities. 10% Debenture Current Liabilities Creditors Tax Payable Interest Payable Bank Overdraft Dividends Payable Total Equity and Liabilities Cost 1.200,000 Condensed Income Statement for 20211 PBIT Less Interest PBT Less Tax PAT Less Dividends Less Transfer to Gen Reserves Retained Profit for the Year Retained Earnings c/d Retained Earnings b/d Depn. 345,000 2020 140,000 96,000 120,000 0 12,500 NBV 35,000 55,000 20,000 95,000 35,000 340,000 855,000 440,000 368,500 2,003,500 850,000 120,000 230,500 40,000 122,500 1,363,500 400,000 240,000 2,003,500 550,000 -20,000 530,000 -40,000 490.000 -35,000 -40,000 415,000 122.500 537,500 Cost Depn. 280,000 1,960,000 390,000 1,570,000 Required a. Prepare the cash flow statement for the year 2021 b. Comment on the company's liquidity and profitability for the year 85,000 142,000 200,000 80,000 32,500 2021 NBV 86,000 10,000 15,000 0 15,000 120.000 539,500 2,509,500 900,000 135.000 270,500 340,000 537,500 2,183,500 200,000 126.000 2,509,500 Endnotes: During the year non-current assets costing $140,000 with a book value of $120,000 was sold at a loss of $20,000 The following financial information was obtained from the books of Boris Johnson ple for the year 2021 Non Current Assets. Goodwill Tangible Assets Long Term Investments Current Assets Stock Debtors Short Term Investments Bank Cash Total Assets Capital and Reserves Share Capital Share Premium General Reserves Revaluation Reserves Retained Earnings Non Current Liabilities. 10% Debenture Current Liabilities Creditors Tax Payable Interest Payable Bank Overdraft Dividends Payable Total Equity and Liabilities Cost 1.200,000 Condensed Income Statement for 20211 PBIT Less Interest PBT Less Tax PAT Less Dividends Less Transfer to Gen Reserves Retained Profit for the Year Retained Earnings c/d Retained Earnings b/d Depn. 345,000 2020 140,000 96,000 120,000 0 12,500 NBV 35,000 55,000 20,000 95,000 35,000 340,000 855,000 440,000 368,500 2,003,500 850,000 120,000 230,500 40,000 122,500 1,363,500 400,000 240,000 2,003,500 550,000 -20,000 530,000 -40,000 490.000 -35,000 -40,000 415,000 122.500 537,500 Cost Depn. 280,000 1,960,000 390,000 1,570,000 Required a. Prepare the cash flow statement for the year 2021 b. Comment on the company's liquidity and profitability for the year 85,000 142,000 200,000 80,000 32,500 2021 NBV 86,000 10,000 15,000 0 15,000 120.000 539,500 2,509,500 900,000 135.000 270,500 340,000 537,500 2,183,500 200,000 126.000 2,509,500 Endnotes: During the year non-current assets costing $140,000 with a book value of $120,000 was sold at a loss of $20,000
Expert Answer:
Answer rating: 100% (QA)
ANSWER 1 Cash flow refers to the net balance of cash moving into and out of a business at a specific ... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
Students also viewed these accounting questions
-
The following financial information was obtained from the year ended 2016 income statements for Jameson Automotive and Bauer Automotive: Requirements 1. Compute the times-interest-earned ratio for...
-
The following financial information was obtained from the year ended 2018 income statements for Cash Automotive and Pennington Automotive: Requirements 1. Compute the times-interest-earned ratio for...
-
The following financial information was obtained from the year ending 2014 income statements for Griffith Automotive and Bowen Automotive: Requirements 1. Compute the times-interest-earned ratio for...
-
Read the following facts and then choose the correct option below: X acts as an interpreter in a transaction where Y wants to buy stolen goods from Z. X's conduct is considered to be that of a/an: a....
-
What does fresh start accounting mean?
-
Explain how and why the Internet makes market segmentation easier.
-
Respondents Varsity Brands, Inc., Varsity Spirit Corporation, and Varsity Spirit Fashions & Supplies, Inc., design, make, and sell cheerleading uniforms. Respondents have obtained or acquired more...
-
A product with an annual demand of 1000 units has Co = $25.50 and Ch = $8. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with = 25 and...
-
Convert the following NFA into an equivalent DFA. Show every step. 91 e 93 90 e a b 92 b e
-
The Fashion Rack is a retail merchandising business that sells brand-name clothing at discount prices. The firm is owned and managed by Teresa Lojay, who started the business on April 1, 20X1. This...
-
You won a lottery that will make equal payments of $1,500 at the end of each year for the next five years. If the annual interest rate stays constant at 5%, calculate what is the value of these...
-
How might team norms encourage groupthink?
-
You manage your companys software development lab, which has added several dozen new employees over the past year. One of the senior developers runs into you at lunch and starts to unload his...
-
When sending out marketing messages about a highly technical and valuable piece of equipment, what sort of media channel choices might be considered best options, and why?
-
Why do you think people are more likely to engage in rude behaviors on social media than during in-person communication?
-
Communication Ethics: Distinguishing Ethical Dilemmas and Ethical Lapses A colleague prone to exaggeration and playing pranks tells you that they borrowed an important piece of the companys equipment...
-
What is the geometric mean return over four years given its prices and dividends paid at the end of each year: Year 2016 2017 2018 2019 2020 Price $100 $130 $140 $135 $120 Dividend $5 $5 $5 $0
-
For the given transfer function: Vo(s) / Vi(s) = (s^2C^2R^2 + 1) / (s^2C^2R^2 + 4sCR + 1) Assumiing that 1/(CR) = 120 PI so write the matlab code to find the magnitude plot
-
The trial balance of Learn for Life Child Care does not balance. The following errors are detected: a. Cash is understated by $1,800. b. A $3,900 debit to Accounts Receivable was posted as a credit....
-
Tread Mile produces two types of exercise treadmills: regular and deluxe. The exercise craze is such that Tread Mile could use all its available machine hours to produce either model. The two models...
-
Franklin issued $80,000 of 10-year, 8% bonds payable on January 1, 2016. Franklin pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method....
-
What is the difference between an F+ and an Hfr strain? Which type of strain can transfer many bacterial genes to recipient cells?
-
What is the role of the origin of transfer during conjugation involving F+ and Hfr strains? What is the significance of the direction of transfer in Hfr conjugation?
-
What is the role of sex pili during conjugation?
Study smarter with the SolutionInn App