As of December 31, 2018, Sadaf Oman Company reported assets of RO 1,700,000. share capital of RO 990,000 and retained eamings of RO 1,600,000. Total liabilities reported on the statement of financial position as of December 31, 2018 i Select one O a RO 1,100,000. ObRO 1350000. OC RO 1,110000. Od. RO 1240000.
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- The following information pertains to BT21 Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?Mvula Limited Statement of Financial Position as at: 28 February 2021 ASSETS Non-current assets Fixed/tangible assets Financial assets Fixed deposit Current assets Inventory Trade and other receivables Cash and cash equivalents Fixed deposit TOTAL ASSETS 4 320 350 EQUITY AND LIABILITIES Bay Holdings Limited: 30 June 2021.Required:Statement of financial position as at: 30 June 2021InformationBALANCE SHEET ACCOUNTSOrdinary share capital 2 648 000Retained income (1 Jul 2020) 490 000Shareholders for dividends 280 000Fixed deposit 60 000Mortgage bond 336 000Fixed/tangible assets (Carrying value) 4 021 000Debtors control 45 000Creditors…DOOKO Corporation’s, Statement of Financial Position as of December 31, 2018 shows the following account balances: Equipment P 40,000 Interest Expense 2,400 Interest Payable 600 Retained Earnings 214,680 Dividends 50,400 Land 137,320 Inventory 102,000 Bonds Payable 78,000 Notes Payable (due in 6 months) 14,400 Share capital–ordinary 60,000 Accum. Deprc’n. - Equipt. 10,000 Prepaid Advertising 5,000 Revenue 331,400 Buildings 80,400 Supplies 1,860 Taxes Payable…
- The extract of statement of financial position for the year ended 30 June 2022 for Pears Ltd and Sapodille Ltd are as follows: Extract of statement of financial position for the year ended 30 June 2022 Equity and liabilities Pears Ltd Sapodille LtdEquity $ $ Share capital ($ 1 Each) 487,500 420,000Share premium 300,000 -Retained earnings 262,500 337,500LiabilitiesNon current liabilities 187,500 75,000Current liabilities 150,000 15,000 On 01 July…Ordinary share dividends (interim) 32 000 Repairs 58 320 4 996 000 4 996 000 Additional information 1. The provision for bad debts must be increased by R3 680. 2. Trading inventory according to stocktaking on 30 June 2020 amounted to R192 000. 3. Capital repayments totalling R48 000 are payable on the unsecured loan from Box Bank in the next financial уear. 4. Depreciation must be provided for as follows: a. On vehicles at 20% on cost b. On equipment at 28% on cost 5. A dividend of 20% of the investment value has been declared by Vac (Pty) Ltd. The dividend has not yet been received. 6. The authorised share capital consists of 500 000 ordinary shares. 7. Note: On 01 July 2019, the company increased the ordinary share capital by issuing 100 000 shares at R2 each. 8. A non-distributable asset replacement reserve of R200 000 must be created. 9. Debentures consist of 20 000 13% debentures of R20 each, issued on 01 July 2019 and redeemable on 30 June 2024. The debentures are secured by a…Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $30,000 required to complete the transaction. Identify the correct statement(s) based on the transaction. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) The Company's liabilities will increase by $25,000. 2 The Company's liabilities will decrease by $30,000. ? Foster Inc's assets will decrease by a net amount of $30.000. 2 The Company's liabilities will increase by $30,000. 2 Foster Inc's assets will increase by a net amount of $30.00. ? Foster Inc.'s assets will decrease by a net amount of $25.000. ENG 1127 PM 9/20/2021 17°C UK M
- The following information pertains to BTS Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?The following trial balance relates to Selt.plc for the year ended 31 December 2021: Equity shares of £1 each Share Premium Retained earnings at 1 January 2021 Property at cost Depreciation on property at 1 January 2021 Plant and equipment at cost Depreciation on plant and equipment at 1 January 2021 Inventory at 1 January 2021 Trade receivables Cash and cash equivalents Trade payables 5% Loan repayable 2026 Revenue Purchases Distribution costs Administrative expenses Research and development expenditure Loan Interest paid Dividend paid Further notes: £'000 34,800 22,800 Required: A Statement of Profit or Loss for the year ended 31 December 2021. A Statement of Financial Position as at 31 December 2021 4,900 4,000 6,840 155,000 22,050 12,750 19,600 300 4,000 287,040 £'000 56,000 2,000 7,780 3,200 4,500 1,560 12,000 200,000 287,040 2) 1) Inventory was valued at £3,800,000 on 31 December 2021. (This valuation is before note (4) below is considered). Property includes land valued at…QUESTION 5 REQUIRED 5.1 Use the information provided below to calculate the following ratios for 2019. Where applicable, round off answers to two decimal places. 5.1.1 Inventory turnover period 5.1.2 Trade receivables period 5.1.3 Trade payables period 5.1.4 Return on capital employed 5.1.5 Current ratia 5.1.6 Acid-test ratio 5.2 Explain how the company can improve on the following by providing twa suggestions each: 5.2.1 Inventory turnover period 5.2.2 Trade receivables period INFORMATION Excerpts of the financial data of Leo Limited for 2019 are as follows: Income statement for the year ended 31 December 2019 R Sales 3 250 000 2 200 000 332 000 Cost of sales Operating profit Interest expense 44 000 Profit before tax 288 000 Company tax 86 000
- Following are the Balance Sheets of A Ltd. and its subsidiaries B Ltd. and C Ltd. as on 31st March, 2016: C Ltd. A Ltd. $ B Lta. $ $ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital Shares of 100 each 12,50,000 | 10,00,000 6,00,000 (b) Reserves and Surplus : 1,80,000 1,60,000 1,00,000 20,000 72,000 51,000 Reserves Surplus Account (2) Current Liabilities Sundry Creditors 1,03,000 1,20,000 Total Equity and Liabilities 16,93,000 | 12,40,000 7,23,000 II. Assets (1) Non-current Assets Fixed Assets 2,80,000 5,50,000 3,75,000 (2) Current Assets 5,30,000 Investments at Cost Stock in Trade 10,30,000 1,20,000 2,63,000 Sundry Debtors 1,60,000 3,48,000 Total Assets 16,93,000| 12,40,000 7,23,000 (a) The break-up of investments, which were all made on 30th September, 2015, is as under: (i) A Ltd. held- 7,500 shares in B Ltd. at a cost of 8,50,000 and 1,500 shares in C Ltd. at a cost of 1,80,000. (ii) B Ltd. held- 4,000 shares in C Ltd. at a cost of 5,30,000. (b) (i) Sundry…The statement of financial position of Weatherly Unlimited (Pty) Ltd is presented below: Statement of FinancialPosition as at 28 February 2022 R Non - current assets 1 850 000 Property, plant and equipment 1.850 000Current assets 1 250 000 Inventory 480 000 Trade receivables 350 000 Cash and cash equivalents 420 000TOTAL ASSETS 3 100 000 EQUITY 1 850 000 Ordinary share capital 1 000 000 Distributable reserves 850 000Non - current liabilities 650 000 Long-term loan 650 000 Current liabilities 600 000 Trade payables 545 000Short-term portion of long-term loan 55 000 TOTAL LIABILITIES 1 250 000 TOTAL EQUITY AND LIABILITIES3 100 000 Additional information: The company plans to increase its sales by 10% in the following year. Current annual sales total R2 500 000. After tax profit margin is 5% and half of the profits is retained within the company. All sales are currently made on credit and in future, sales will remain on credit. What is the additional working capital required to support…The Statement of Financial Position (SFP) of Arthur Corporation on June 30, 202X is presented below:Current Assets P195,000Land 1,320,000Building 660,000Equipment 525,000Total Assets P2,700,000Liabilities P525,000Ordinary Shares, P5 par 900,00Share Premium 825,000Retained Earnings 450,000Total Equities P2,700,000All the assets and liabilities of Arthur were assumed to approximate their fair values except for land and building. It is estimated that the land has a fair value of P2,100,000, and the fair value of the building increased by P480,000. Ezekeil Corporation acquired 80% of Arthur’s outstanding shares for P3,000,000. The non-controlling interest is measured at fair value.Required:a. Determine the goodwill or gain on bargain purchase assuming the consideration paid includes control premium of P852,000. Determine the goodwill or gain on bargain purchase assuming the consideration paid excludes control premium of P138,000 and the fair value of the non-controlling interest is…
