| 1.56 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION |
|---|---|---|---|---|---|
| Hawkins PLC | |||||
| Appropriation Account for the year ended 31 December Year 7 | |||||
| £OOO | £OOO | £OOO | |||
| Profit for the Year | 92 | ||||
| Less Corporation Tax (25%) | 23 | ||||
| 69 | |||||
| Add Unappropriated Profit | 110 | ||||
| 179 | |||||
| Less | |||||
| Preference Dividend | 14 | ||||
| Ordinary Dividend | 80 | ||||
| General Reserve | 50 | 144 | |||
| Unappropriated Profit | 35 | ||||
| Hawkins PLC | |||||
| Statement of Financial Position as at 31 December Year 7 | |||||
| COST | DEPN | NBV | |||
| £OOO | £OOO | £OOO | |||
| Non-Current Assets | |||||
| Motor Vehicles | 180 | 100 | 80 | ||
| Property | 900 | 0 | 900 | ||
| Intangible Assets: Goodwill | 20 | ||||
| 1000 | |||||
| Investments | 0 | ||||
| 1000 | |||||
| Current Assets | |||||
| Closing Inventory | 150 | ||||
| Trade Receivables | 200 | ||||
| Provision for Bad Debts | 44 | 156 | |||
| Cash and Cash Equivalents | 51 | ||||
| Rent Receivable | 22 | ||||
| 379 | |||||
| Current Liabilities | |||||
| Trade Payables | 90 | ||||
| Corporation Tax Payable | 23 | ||||
| Wages Payable | 11 | 124 | |||
| Working Equity | 255 | ||||
| Net Assets Employed | 1255 | ||||
| Non-Current Liabilities | |||||
| Debentures | 0 | 0 | |||
| Net Assets | 1255 | ||||
| EQUITY | |||||
| 800,000 £1 Ordinary Shares | 800 | ||||
| 200,000 £1 7% Preference Shares | 200 | 1000 | |||
| Reserves | |||||
| Unappropriated Profit | 35 | ||||
| General Reserve | 200 | ||||
| Share Premium | 20 | 255 | |||
| 1255 |