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.
Resolution For Voluntary Winding Up A company may be put into voluntary liquidation: 1) By ordinary resolution: where any period fixed for the duration of the company has ex
Questikon: For Period Wilson Ltd has produced the following budget figures for Product X: For the period, the budgeted fixed overhead is Rs100,000 and the budgeted sales ar
Which of the following actions are most likely to directly increase cash as shown on a firm's balance sheet? Explain and state the assumptions that underlie your answer. 1. It i
Exclusions - Income item that is excluded from a taxpayer's gross income by INTERNAL REVENUE CODE or an administrative action. Common exclusions comprise gifts, inheritances and de
I have a presentation on an article (around 20 pages). I also need 2 current real life examples (2 companies) to support the presentation. Can you do that? How long it will take yo
Under this system all stock levels are reviewed after fixed time duration, depending upon the significance of the item. Imported items may need a shorter review cycle, while slow m
what is journal
2500 words
Cherry Ltd has the following segment information from the consolidated financial statements for the years ended 31 December 2011 and 2012: Operating segments C V I N$ N$ N$ Sales
The New York Jets have decided to go public and are offering new shares for $40. Since the Jets want to build a new stadium, the firm will retain all earnings and will not issue an
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