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.
how to calculate total costing in weighted average method
Reamer Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next ye
Assume that $140,000 of Denham Springs school dostrict 8% bonds are sold on the bond issue date for $128,598 interest is payable semiannually, and the bonds mature in 15 years. The
A manufacturing company wants to package its product in a rectangular box with a square base and a volume of 32 cubic inches. The cost of the material used for the top is $.05 squa
Example of Contract Account A company has been awarded a contract to build a house. It is a contract Number 45 for the company and the contract price is shs.2.65 millio
Question The statements of comprehensive income for three entities for the year ended 30 September 2009 are presented below: SOT PB UV
what is the importance and assumptions of application of marginal costing
Weighted Average Method This way is a perpetual weighted average system whereas the issue price is recalculated after one of receipt of stocks taking into accounts both money
Participation - Behavioural Aspects of Standards It has already been pointed out in the previous paragraph such standard costing systems would be more acceptable whether the e
Describe briefly the possible causes of: (i) the material usage variance, (ii) the labour rate variance, (iii) the sales volume profit variance.
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