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.
FORMAT FOR BALANCE SHEET The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital sect
cisco intangible assets
The appropriate treatment of Cash flow in respect of the following items as per US GAAP & FASB - (230-10) 1. Receipt of Insurance settlement proceeds of $2 mill. From an intern
Question: (a) Describe how cost concepts and behavior can be important to Management. (b) What do you meant by "flexing" the Budget? Describe the importance of flexible bud
liabilities and its types
Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum
Define the term Limited company- business ownership Limited companies can range in size from quite small to very large. Number of individuals who subscribe capital and become
Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a
Adjudication order The court may adjudge the debtor bankrupt on the application of the O.R. or any creditor in the following cases: If the creditors so resolve at their first
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
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