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Property, Plant, and Equipment Analysis

The document shows the financial position of a business over the period. It includes an income statement showing revenue of $187,500 and net profit of $84,900 after expenses. The balance sheet outlines total assets of $450,150 including non-current assets of $270,000 in land and buildings and current assets of $180,150 in inventory, receivables and cash in the bank. Total equity and liabilities are also $450,150 with equity of $391,500 comprising capital, net profit and drawings, and current liabilities of $58,650 in trade payables.

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927 views6 pages

Property, Plant, and Equipment Analysis

The document shows the financial position of a business over the period. It includes an income statement showing revenue of $187,500 and net profit of $84,900 after expenses. The balance sheet outlines total assets of $450,150 including non-current assets of $270,000 in land and buildings and current assets of $180,150 in inventory, receivables and cash in the bank. Total equity and liabilities are also $450,150 with equity of $391,500 comprising capital, net profit and drawings, and current liabilities of $58,650 in trade payables.

Uploaded by

PRECIOUS
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
  • Fixed Asset Schedule
  • Working Notes
  • Trial Balance
  • Financial Summary

Land and Buildings Fixtures and Fittings Total

N$'000 N$'000 N$'000


Carrying amount at the beginning of the year XXX XXX XXX
Cost XXX XXX XXX
Accumulated depreciation and impairment (XXX) (XXX) (XXX)

Movements for the year:


Additions XXX XXX XXX
Disposals (XXX) (XXX) (XXX)
Revaluation surplus XXX XXX XXX
Depreciation for the year (XXX) (XXX) (XXX)

Carrying amount at end of the year XXX XXX XXX


Cost or revalued amount XXX XXX XXX
Accumulated depreciation and impairment (XXX) (XXX) (XXX)
Land and Buildings Furniture Vehicles Total
N$ N$ N$
Carrying amount at the beginning of the year 496,000 60,000 170,000 726,000
Cost 500,000 100,000 250,000 850,000
Accumulated depreciation and impairment (4,000) (40,000) (80,000) (124,000)

Movements for the year:


Additions - - 45,600 45,600
Disposals - (22,800) - (22,800)
Depreciation for the year (4,000) (8,290) (36,280) (48,570)

Carrying amount at end of the year 492,000 28,910 179,320 700,230


Cost or revalued amount 500,000 77,200 295,600 872,800
Accumulated depreciation and impairment (8,000) (48,290) (116,280) (172,570)
Marks
Working 1
1
Land 300,000
Buildings 200,000
Land & Buildings 500,000

1 Depreciation for Buildings 2% x 200000 4,000


1
1

1 Working 2
1 Opening Balance of Furniture 100,000
1 Less Furniture Sold (22,800)
Balance of Furniture 77,200

Calculation of Depreciation for


Furniture
Balance of Furniture 10% x 77200 7,720
Deprciation on Sold Furniture 10% x 22800 x 3/12 570
Total Depreciation for Furniture 8,290
7

Working 3

Opening Balance of Vehicle 250,000


New Vehicle Bought 45,600
Total Cost of Vehicles 295,600

Calculation of Depreciation for


Vehicles
Total Cost of Vehicles 20% x (250000 - 80000) 34,000
Deprciation on Sold Furniture 20% x 45600 x 3/12 2,280
Total Depreciation for Furniture 36,280
Marks

1.00

1.00

1.00
DR N$ CR N$
Bank 15,000
Trade receivables (66900-6750) 60,150
Sales 187,500
Trade payables 58,650
Inventory (106800-2550+750) 105,000
General expenses (36300+825*2) 37,950
Stationery expense (5100+2550) 7,650
Salaries 35,100
Repairs and maintenance (22200-750) 21,450
Capital - 371,850
Land and buildings 270,000
Drawings 65,250
Bank charges 450
618,000 618,000
Sales 187,500
Cost of Sales -
Gross Profit 187,500
Less Expenses 102,600
General expenses (36300+825*2) 37,950
Stationery expense (5100+2550) 7,650
Salaries 35,100
Repairs and maintenance (22200-750) 21,450
Bank charges 450
Net Profit Before Interest and Tax 84,900

Non-Current Assets
Land and buildings 270,000

Current Assets 180,150


Inventory (106800-2550+750) 105,000
Trade receivables (66900-6750) 60,150
Bank 15,000
Total Assets 450,150

Equitie and Liabilities


Equity 391,500
Capital 371,850
Net Profit 84,900
Drawings (65,250)

Liabilities
Current Liabilities
Payables 58,650

450,150
-

Land and Buildings Fixtures and Fittings Total N$'000 N$'000 N$'000 Carrying amount at the beginning of the year XXX XXX XXX
Land and Buildings Furniture Vehicles Total N$ N$ N$ Carrying amount at the beginning of the year 496,
Marks Working 1 1 Land 300,000 Buildings 200,000 Land &
Marks 1.00 1.00 1.00
DR N$ CR N$ Bank 15,000 Trade receivables (66900-6750) 60,150 Sales 187,500 Trade payables 58,6
Sales 187,500 Cost of Sales - Gross Profit 187,500 Less Expenses 102,600 General expense

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