Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The balance sheet and income statement for Bingle Ltd is presented to you as follows:
Balance Sheet Extract as at 30 June 2012 with comparatives
30 June 2011
$
30 June 2012
Current Assets
Cash
88 000
121 500
Accounts Receivable
110 000
140 000
Provision for Doubtful Debts
-15 000
-20 000
Inventory
45 000
50 000
228 000
291 500
Non Current Assets
Land
125 000
Buildings
200 000
Accumulated Depn - Buildings
-30 000
Plant and Equipment
210 000
Accumulated Depn - Plant and Equip
410 000
485 000
TOTAL ASSETS
638 000
776 500
Current Liabilities
Trade Creditors
37 000
30 000
Electricity Payable
3 000
5 000
Wages Payable
10 000
Income Tax Payable
38 000
44 000
83 000
89 000
Non Current Liabilities
Long Term Loans
65 000
TOTAL LIABILITIES
133 000
154 000
The income statement for the year ending 30 June 2012
Sales (all on credit)
442 500
Less Cost of Goods Sold
120 000
Gross Profit
322 500
Less Expenses Incurred
Wages
135 000
Interest
5 500
Electricity
22 500
Doubtful Debts
20 000
Depreciation Buildings
Depreciation - Plant and Equip
35 000
Operating Profit before Tax
94 500
Less Taxation Expense
42 000
Operating Profit after tax
52 500
Required
(i) Reconstructing all relevant ledger accounts, prepare the operating cash flows section of the cash flow statement to determine operating cash flows for the year ending 30 June 2012. Show each individual cash flow item separately.
(ii) Prepare a reconciliation of operating profit (after tax) to cash received from operating activities for the year ending 30 June 2012.
PC Bank has $100,000 in fixed rate loans paying an annual interest rate of 10 percent, payable semiannually. PC Bank also has $100,000 in certificates of deposit. Their depositor
Question: The accountant of a company is preparing the cash budget for the first six months of 2011 and obtains the following information: Sales on credit, variable costs an
"Government departments should take audit report seriously by preparing annual financial statement on time".... Based on the above statement, suggest ways on how government depa
Distribution of Assets 1. Proof of debts : If the company is insolvent, the rules in bankruptcy as to provable debts, secured creditors, interests, mutual dealings, annuiti
Temporary or Timing differences Temporary/timing differences relate to those items that are adjusted in the current period and are again adjusted in subsequent financial period
Illustration of Admission of a new partner XYZ have been trading as equal partners having capital contributions of £300,000, £250,000 and £200,000 respectively. They agreed
The IRS is conducting a transfer pricing examination of USAco, a wholly-owned U.S. subsidiary of FORco. USAco purchases widgets from FORco for resale in the United States. The IRS
The risk-free rate of return, rRF , is 10%; the needed rate of return on the market, rM, 16%; and Schuler Company's stock has a beta coefficient of 1.6. a. If the dividend
Natasha's income is $300 per month. She spends all of it on tickets to concerts and films. A concert ticket costs $15 and a fi lm ticket costs $10. Her marginal rate of substitutio
I am in a class that is supposed to be 100 level and I am really struggling. I need hlep with trial balances, adjustments, etc.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd