| 1.55 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION |
|---|---|---|---|---|---|
| Georgeson PLC | |||||
| Appropriation Account for the year ended 31 December Year 4 | |||||
| £OOO | £OOO | £OOO | |||
| Profit for the Year | 205000 | ||||
| Less Corporation Tax (25%) | 51250 | ||||
| 153750 | |||||
| Add Unappropriated Profit | 33000 | ||||
| 186750 | |||||
| Less | |||||
| Ordinary Dividend | 80000 | ||||
| General Reserve | 20000 | 100000 | |||
| Unappropriated Profit | 86750 | ||||
| Georgeson PLC | |||||
| Statement of Financial Position as at 31 December Year 4 | |||||
| COST | DEPN | NBV | |||
| £OOO | £OOO | £OOO | |||
| Non-Current Assets | |||||
| Property | 700000 | 0 | 700000 | ||
| Fittings | 30000 | 10000 | 20000 | ||
| Intangible Assets: Preliminary Expenses | 10000 | ||||
| 730000 | |||||
| Investments | 0 | ||||
| 730000 | |||||
| Current Assets | |||||
| Closing Inventory | 280000 | ||||
| Trade Receivables | 150000 | ||||
| Provision for Bad Debts | 4000 | 146000 | |||
| Cash and Cash Equivalents | 200000 | ||||
| Rates Receivable | 1000 | ||||
| 627000 | |||||
| Current Liabilities | |||||
| Trade Payables | 90000 | ||||
| Corporation Tax Payable | 51250 | ||||
| Wages Payable | 3000 | ||||
| Debenture Interest Payable | 6000 | 150250 | |||
| Working Equity | 476750 | ||||
| Net Assets Employed | 1206750 | ||||
| Non-Current Liabilities | |||||
| Debentures | 200000 | 200000 | |||
| Net Assets | 1006750 | ||||
| EQUITY | |||||
| 800,000 £1 Ordinary Shares | 800000 | 800000 | |||
| Reserves | |||||
| Unappropriated Profit | 86750 | ||||
| General Reserve | 20000 | ||||
| Share Premium | 100000 | 206750 | |||
| 1006750 | |||||
| 0 |