You are presented with the following
summarized accounts of Mtwapa Ltd. which has 40,000 issued ordinary...
You are presented with the following
summarized accounts of Mtwapa Ltd. which has 40,000 issued ordinary
shares:
Mtwapa Ltd.
Income Statement for the Year
To 28 Feb. 2012
Sh.
Sales (all credit)
1,200
Cost of sales
600
Gross profit
600
Administrative expenses
(500)
Debenture interest payable
(10)
Profit on ordinary activities
90
Taxation
(30)
60
Dividends
(40)
Retained profit for the year
20
Mtwapa Ltd.
Statement of Financial Position
At 28 Feb. 2012
Sh....
The comparative balance sheets of Timothy, Inc., are presented
for December 31, 2019, and December 31,...
The comparative balance sheets of Timothy, Inc., are presented
for December 31, 2019, and December 31, 2018, (in thousands of
dollars). Timothy, Inc. earned $25 thousand after taxes in 2019,
incurred depreciation expense of $19 thousand, and paid common
dividends of $16 thousand.
Equipment costing $12 thousand was purchased during the
year.
2019
2018
Cash
$ 66
$ 67
Accounts receivable, net
91
86
Inventories
43
39
Current assets
$ 200
$ 192
Net property, plant and equipment...
The Statement of Financial Position for Cush Limited for the
year to 30 September 2019 is...
The Statement of Financial Position for Cush Limited for the
year to 30 September 2019 is as follows:
Non-Current Assets:
2019
2018
Land cost
300,000
200,000
Buildings cost
450,000
400,000
Buildings Accumulated Depn
(215,000)
(120,000)
535,000
480,000
Current Assets
Inventory
25,000
22,000
Trade Receivables
36,000
39,000
Cash & Bank
15,000
17,000
76,000
78,000
Total Assets
611,000
558,000
Equity
2019
2018
Issued Share Capital
15,000
10,000
Share Premium
80,000
10,000
Retained Earnings
359,000
387,000
454,000
407,000
Non-current liabilities
Debentures
120,000
100,000...
A summary
of the
financial statements of FB Ltd
are as follows:
Abstract
from Income
Statement/Profit...
A summary
of the
financial statements of FB Ltd
are as follows:
Abstract
from Income
Statement/Profit and
Loss Account for the year ended 31 December 2018.
£000
Operating
profit
50,500
Interest
payable
(2,500)
Profit
before taxation
48,000
Taxation
(12,000)
Profit
after taxation
36,000
Balance
Sheets
2018
2018
2017
2017
£000
£000
£000
£000
Leasehold
Property at
cost
60,000
60,000
Accumulated
depreciation
(18,000)
(12,000)
42,000
48,000
Machinery
at
cost
96,000
82,000
Accumulated
depreciation
(19,000)
(14,000)
77,000
68,000
Current assets
Inventories/stocks
25,000...
The statement of financial position of KY Limited at
31 December 2019 shows the following. Non-current...
The statement of financial position of KY Limited at
31 December 2019 shows the following. Non-current assets GH₵
1,350,000; current assets GH₵ 140,000; ordinary share capital GH₵
900,000; general reserve GH₵ 150,000; 10% debentures GH₵ 200,000;
current liabilities GH₵ 90,000; retained earnings GH₵ 150,000 The
profit from operations for the year was GH₵ 65 000 and the finance
costs were GH₵ 20 000. What is the return on capital employed for
2019?
A. 3.21%
B. 4.64%
C. 5.7%
D. 5.91%...
The balance sheets of Jobin & Co
Ltd for the years ended 2010, 2011 and 2012...
The balance sheets of Jobin & Co
Ltd for the years ended 2010, 2011 and 2012 are as follows:
Jobin & Co Ltd
Balance sheets at 31 December
2010
2011
2012
K000
K000
K000
Non-current assets
Plant and
equipment
13,200
16,110
16,410
Current assets
Inventory
2,190
2,280
2,490
Trade
debtors
2,
040
2,100
2,430
Short-term
investments
4,200
1,800
1,290
Cash at bank and in
hand
1,920
1,650
2,160
Creditors: amounts falling due within
one year
Short-term
loans
(2,340) ...
The Comparative Balance Sheet of XYZ Inc. for December 31,
2019 and 2018 is shown as...
The Comparative Balance Sheet of XYZ Inc. for December 31,
2019 and 2018 is shown as follows:
12/31/19 12/31/18
Assets
Cash $625,760 $585,920
Accounts Receivable 227,840 208,960
Inventories $641,760 $617,120
Investments 0 240,000
Land 328,000 0
Equipment 705,120 553,120
Accumulated Depreciation-equipment (166,400) (148,000)
Total Assets $2,362,080 $2,057,120
Liabilities and Stockholders’ Equity
Accounts payable (merchandise creditors) $424,480
$404,960
Accrued expenses payable (operating expenses) 42,240
52,640
Dividends payable 24,000 19,200
Common Stock, $4 par 150,000 100,000
Paid In Capital – common stock...
The comparative
balance sheet for the ZYX Company at December 31, 2019 and 2018 is
as...
The comparative
balance sheet for the ZYX Company at December 31, 2019 and 2018 is
as follows:
12/31/19
12/31/18
Assets:
Cash $146,600
$179,800
Accounts Receivable
224,600 242,000
Merchandise
Inventory 321,600 299,200
Prepaid Expenses
13,400 9,600
Equipment 655,000
537,000
Accumulated
depreciation-equipment (170,800) (132,200)
Total Assets
$1,190,400 $1,135,400
Liabilities and
Stockholders’ Equity
Accounts payable
(merchandise creditors)
$250,200
$237,600
Mortgage note
payable 0 336,000
Common Stock, $10
par 74,000 24,000
Paid in
Capital-common stock 470,000 320,000
Retained Earnings
396,200 217,800
Total...
