Q1 C
Q2 B
Q3 A
Q4 A
Q5 D
Q6 A
Q7 A
Q8 A
Q9 B
Q10 D
Q11 C
Statement of financial position as at xxx
ASSETS £ £ £
Non current assets Cost Depreciation NBV
Plant and equipment 25,000 10,000 15,000
Motor Vehicles 24,000 12,000 12,000
49,000 22,000 27,000
Current Assets
Inventories 5,500
Trade Receivables 8,300
Cash 670 14,470
Total assets 41,470
EQUITY AND LIABILITIES
Equity:
Share Capital 10,000
Retained Profit / Retained Earnings 3,570
13,570
Non-current liabilities:
Borrowings 24,000
Current Liabilities:
Trade Payables 3,500
Taxation Payable 400
3,900
Total Equity and Liabilities 41,470
Statement of financial position as at xxx
ASSETS £ £ £
Non current assets Cost Depreciation NBV
Property, plant & equipment
Land and Buildings 250,000 0 250,000
Motor Vehicles 60,000 12,000 48,000
Fixtures and Fittings 46,000 6,000 40,000
Intangible - Goodwill 80,000 0 80,000
Financial assets - long term investment 20,000 0 20,000
456,000 18,000 438,000
Current Assets
Inventories 12,000
Trade Receivables 6,800
Cash 2,600 21,400
Total assets 459,400
EQUITY AND LIABILITIES
Equity:
Share Capital 120,000
Retained Profit / Retained Earnings 233,400 Balancing Figure
Non-current liabilities:
Borrowings 50,000
Current Liabilities:
Trade Payables 27,000
Taxation Payable 10,000
Dividend Payable 5,000
Borrowings - bank loan 14,000
56,000
Total Equity and Liabilities 459,400