Question 3 Statements of Financial Position as at 31 December. Year 1 Year 2 The summarised accounts of Hope Sdn Bhd for Year 1 and Year 2 are given below: RM 000 RM'000 RM'000 110 RM'000 Non-current assets (NBV) Inventories 140 Statement of Profit or Loss for the years ended 31 December. 20 30 Year 1 Year 2 Trade receivables 25 28 RM 000 RM 00 RM'000 RM000 280 (210) 70 Bank 45 155 63 Sales 200 203 Less: Cost of goods sold Gross profit Less: Expenses: Administration expenses Debenture interest (150) 50 Ordinary share capital Retained profits 100 100 41 30 130 38 46 141 (38) 4 (50) Net profit before tax Less: Tax expense Net profit after tax 12 20 Trade payables Bank 15 12 (3) (4) 16 10 25 12 8% Debentures 50 Statement of Changes in Equity (extract) for the years ended 31 December. 155 203 Year 1 RM 000 Year 2 RM 000 Inventories as at 1 January Year 1 was RM50,000. Retained earnings as at 1 Jan Add: Profit for the year Less: Appropriation Ord div of 5 sen per share 26 30 16 Required: (5) 30 (a) Calculate the following ratios for Year 1 and Year 2: (vii) Quick ratio. (5) Retained earnings as at 31 Dec 41 b) State the possible reasons for and significance of any changes in the ratios shown by your calculations.
Question 3 Statements of Financial Position as at 31 December. Year 1 Year 2 The summarised accounts of Hope Sdn Bhd for Year 1 and Year 2 are given below: RM 000 RM'000 RM'000 110 RM'000 Non-current assets (NBV) Inventories 140 Statement of Profit or Loss for the years ended 31 December. 20 30 Year 1 Year 2 Trade receivables 25 28 RM 000 RM 00 RM'000 RM000 280 (210) 70 Bank 45 155 63 Sales 200 203 Less: Cost of goods sold Gross profit Less: Expenses: Administration expenses Debenture interest (150) 50 Ordinary share capital Retained profits 100 100 41 30 130 38 46 141 (38) 4 (50) Net profit before tax Less: Tax expense Net profit after tax 12 20 Trade payables Bank 15 12 (3) (4) 16 10 25 12 8% Debentures 50 Statement of Changes in Equity (extract) for the years ended 31 December. 155 203 Year 1 RM 000 Year 2 RM 000 Inventories as at 1 January Year 1 was RM50,000. Retained earnings as at 1 Jan Add: Profit for the year Less: Appropriation Ord div of 5 sen per share 26 30 16 Required: (5) 30 (a) Calculate the following ratios for Year 1 and Year 2: (vii) Quick ratio. (5) Retained earnings as at 31 Dec 41 b) State the possible reasons for and significance of any changes in the ratios shown by your calculations.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter2: Basic Accounting Systems: Cash Basis
Section: Chapter Questions
Problem 2.3P: P2-3 Financial statements The following amounts were taken from the accounting records of Padget...
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