Tutors Answer Your Questions about Finance (FREE)
Question 1175356: H. LTD consolidated financial statement on 31 December 2020 was as follows;
Credit sales 1300 000
Cash sales 300 000
Cost of goods sold 1 600 000
Opening stock 10 000
Purchases 1 300 000
1 310 000
Closing stock (20 000) (1 290 000)
Gross profit 310 000
Operating expenses
Insurance 9 000
Stationery 10 000
Salaries/wages 75 000
Carriage outwards 3 000
Provisions for bad debts 4 000
Depreciation on non current assets 6 250
Rent/rates 40 000 147 250
Net profit before tax 162 750
Company tax (48825)
Net profit after tax 113925
Ordinary dividends paid (20 000)
Net profits c/f 93 925
Statement of Financial position as at 31 December 2020
Assets 2019 2020
Non current
Land/building 177 500 216 250
Account depreciation (5500) 172 000 9250 20 7000
Plant/machinery 162 500 187 500
Account depreciation 4250 158 250 (6 125) 18 1375
Fixtures/fittings 25 000 32 500
account dep (3625) 21 375 (4250) 28 250
351 625 416 625
Goodwill 60 000 50 000
Current assets
Inventory 9350 79 725
Accounts receivables 12 750 24 225
Prepayments 2500 20 000
Preliminary expenses 2000 1 500
Share issue expenses 3000 2000
Cash at bank 2 500 7650
Cash at hand 375 32475 325 37 700
444 100 504325
Equity/liabilities
Ordinary share capital 100 000 135 900
Retained profits 75 000 168 925
Non current liabilities
Long term loan 173 600 40 000
Current liabilities
Accounts payable 15 500 14 500
Taxation 40 000 100 000
Dividends 20 000 20 000
Accruals 20 000 25 000
444 100 504 325
ADDITIONAL INFORMATION
(a) The goodwill was impaired, preliminary expenses and share issue expenses were written off.
Required:
Draw up a consolidated statement of cash flows for the year ended December 2020 using the indirect method.
Click here to see answer by ikleyn(52781)   |
Question 1175358: The statements of financial position of 3 companies on 31 December 2020 were as follows;
A B C
Tangible Non current assets 1 000 000 800 000 1 200 000
Investments in subsidiaries
1350 000 ordinary shares in A 2 500 000
80 000 ordinary shares in B 1 800 000
100 000 ordinary shares in C 500 000
Net assets current assets 300 000 200 000 250 000
4 300 000 2 800 000 1 450 000
Equity/Liabilities
Ordinary shares at 1 each 3 500 000 1500 000 1 000 000
Retained profits 200 000 500 000 250 000
Long term loans 640 000 800 000 200 000
4 300 000 2 800 000 1 450 000
A bought its shares in B Ltd on 1 January 2020. B Ltd bought its shares at C Ltd on the same date. On that date the reserves of B Ltd and C Ltd were $200 00 and $100 000 respectively.
Required
(a) Analysis of subsidiaries of B Ltd and C Ltd on 31 December 2020
(b) A consolidated statement of financial position as at 31 December 2020
Click here to see answer by ikleyn(52781) |
Question 1175357: The statement of financial position of A LTD on 31 December 2020 was as follows;
Statement of Financial Position as at 31/12/2020
Asset $
Non current Asset 2 000 000
Goodwill 100 000
Debenture discount 50 000
Net current asset 400 000
2 550 000
Equity/ Liability
Ordinary share capital 1 500 000
General reserve 400 000
Retained profits 500 000
2 400 000
20% Preference shares 100 000
30% Debentures 30 000 130 000
Current liabilities
Accounts payable 20 000
2 550 000
The net profit of A LTD after tax for the next 4 years was expected to be as follows;
Year ended
31/12/21 200 000
31/12/22 300 000
31/12/23 350 000
31/12/24 380 000
31/12/25 400 000
A fair rate of return on the business as a whole is estimated to be 20%.
Required
Calculate the value of 1 ordinary share on A LTD as at 31 December 2020 using super profits method.
Click here to see answer by ikleyn(52781) |
Question 1175329: Will you please help me with the homework:
Four south africa students received scholarship from four overseas countries.Student A received 2200pound, student B received 2500 us dollars, student C received 28000 Pula and student D received 2700 euros. If the exchange rates stand at 1€=R13,50,£=R18,72, $=R11,83 and Pula=R1.20. question now says
calculate how much each student will received in rand?
Click here to see answer by ewatrrr(24785)  |
Question 97502: Heres the question:
A farmer wants to buy 100 animals for $100.00 (must buy at least one of them)
Horses-$5.00
Cows-$3.00
Chicks-.50
How many horses,cows and chicks does the farmer need to have 100 and 100.00?
Click here to see answer by Soxxie95(1) |
Question 97502: Heres the question:
A farmer wants to buy 100 animals for $100.00 (must buy at least one of them)
Horses-$5.00
Cows-$3.00
Chicks-.50
How many horses,cows and chicks does the farmer need to have 100 and 100.00?
Click here to see answer by ikleyn(52781) |
Question 1175398: You want to buy a 221,000 home. You plan to pay a 15% down payment, and take out a 30 year loan for the rest.
What will the monthly payments be if the interest rate is 6%?
What will the monthly payments be if the interest rate is 7%?
Click here to see answer by Theo(13342)  |
Question 1175398: You want to buy a 221,000 home. You plan to pay a 15% down payment, and take out a 30 year loan for the rest.
What will the monthly payments be if the interest rate is 6%?
What will the monthly payments be if the interest rate is 7%?
Click here to see answer by MathTherapy(10552)  |
Question 1175108: Mwau bought a piece of plot of land for ksh.300000 per hectare. The value appreciated at a constant rate of 10% per annum . After 2 years , he sold the whole plot to a customer who paid him ksh.500000 per hectare . In the transaction he received ksh. 274000 more than the present value of the plot . Determine :
a) The present value per hectare.
b) If the rate is the same , what is the land value in the next three years from the present value .
c) The size of wau's plot in hectare
Click here to see answer by Solver92311(821)  |
Question 1175059: Mawu bought a piece of plot of land for ksh.300000 per hectare. The value appreciated at a constant rate of 10% per annum . After 2 years , he sold the whole plot to a customer who paid him ksh.500000 per hectare . In the transaction he received ksh. 274000 more than the present value of the plot . Determine :
a) The present value per hectare.
b) If the rate is the same , what is the land value in the next three years from the present value .
c) The size of wau's plot in hectare
Click here to see answer by Solver92311(821) |
Question 1175549: a balloon is hovering 800 ft above a lake. The balloon is observed by the crew of a boat as they look upwards at an angle of 20 degrees. 25 seconds later, the crew had to look at an angle of 65 degrees to see the balloon. How fast was the boat traveling?
Click here to see answer by ikleyn(52781) |
|
Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 7606..7650, 7651..7695, 7696..7740, 7741..7785, 7786..7830, 7831..7875, 7876..7920, 7921..7965, 7966..8010, 8011..8055, 8056..8100, 8101..8145, 8146..8190, 8191..8235, 8236..8280, 8281..8325, 8326..8370, 8371..8415, 8416..8460, 8461..8505, 8506..8550, 8551..8595, 8596..8640, 8641..8685, 8686..8730, 8731..8775, 8776..8820, 8821..8865, 8866..8910, 8911..8955, 8956..9000, 9001..9045, 9046..9090, 9091..9135, 9136..9180, 9181..9225, 9226..9270, 9271..9315, 9316..9360, 9361..9405, 9406..9450, 9451..9495, 9496..9540, 9541..9585, 9586..9630, 9631..9675, 9676..9720, 9721..9765, 9766..9810, 9811..9855, 9856..9900, 9901..9945, 9946..9990, 9991..10035, 10036..10080, 10081..10125, 10126..10170, 10171..10215, 10216..10260, 10261..10305, 10306..10350, 10351..10395, 10396..10440, 10441..10485, 10486..10530, 10531..10575, 10576..10620, 10621..10665, 10666..10710, 10711..10755, 10756..10800, 10801..10845, 10846..10890, 10891..10935, 10936..10980, 10981..11025, 11026..11070, 11071..11115, 11116..11160, 11161..11205, 11206..11250, 11251..11295, 11296..11340, 11341..11385, 11386..11430, 11431..11475, 11476..11520, 11521..11565, 11566..11610, 11611..11655, 11656..11700, 11701..11745, 11746..11790, 11791..11835, 11836..11880, 11881..11925, 11926..11970, 11971..12015, 12016..12060, 12061..12105, 12106..12150, 12151..12195, 12196..12240, 12241..12285, 12286..12330, 12331..12375, 12376..12420, 12421..12465, 12466..12510, 12511..12555, 12556..12600, 12601..12645, 12646..12690, 12691..12735, 12736..12780, 12781..12825, 12826..12870, 12871..12915, 12916..12960, 12961..13005, 13006..13050, 13051..13095, 13096..13140, 13141..13185, 13186..13230, 13231..13275, 13276..13320, 13321..13365, 13366..13410, 13411..13455, 13456..13500, 13501..13545, 13546..13590, 13591..13635, 13636..13680, 13681..13725, 13726..13770, 13771..13815, 13816..13860, 13861..13905, 13906..13950, 13951..13995, 13996..14040, 14041..14085, 14086..14130, 14131..14175, 14176..14220, 14221..14265, 14266..14310, 14311..14355, 14356..14400, 14401..14445, 14446..14490, 14491..14535, 14536..14580, 14581..14625, 14626..14670, 14671..14715, 14716..14760, 14761..14805, 14806..14850, 14851..14895, 14896..14940, 14941..14985, 14986..15030, 15031..15075, 15076..15120, 15121..15165, 15166..15210, 15211..15255, 15256..15300, 15301..15345, 15346..15390, 15391..15435, 15436..15480, 15481..15525, 15526..15570, 15571..15615, 15616..15660, 15661..15705, 15706..15750, 15751..15795, 15796..15840, 15841..15885, 15886..15930, 15931..15975, 15976..16020, 16021..16065, 16066..16110, 16111..16155, 16156..16200, 16201..16245, 16246..16290, 16291..16335, 16336..16380, 16381..16425, 16426..16470, 16471..16515, 16516..16560
|
