| 1.58 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 | Unnamed: 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Keith and Joseph PLC | ||||||||||
| Income Statement (and Appropriation Account) for the year ended 31 December Year 5 | 10.0 | |||||||||
| £OOO | £OOO | £OOO | ||||||||
| Sales Revenue | 180 | |||||||||
| Less Sales Returns | 0 | |||||||||
| Net Sales Revenue | 180 | 1 plus title | ||||||||
| Less Cost of Sales | ||||||||||
| Opening Inventory | 5 | 1 | ||||||||
| Add Purchases | 105 | 1 | ||||||||
| Less Purchases Returns | 0 | 105 | ||||||||
| 110 | ||||||||||
| Add Carriage In | 17 | 1 | ||||||||
| 127 | ||||||||||
| Less Closing Inventory | 7 | 1 | ||||||||
| COST OF SALES | 120 | |||||||||
| Gross Profit | 60 | |||||||||
| Less Expenses | ||||||||||
| Admin Expenses | 11 | 1 | ||||||||
| Selling Expenses | 10 | 1 | ||||||||
| Debenture Interest | 2 | * | ||||||||
| General Expenses | 11 | * 1 for both | ||||||||
| Depreciation - Plant and Machinery | 8 | * | ||||||||
| Depreciation - Motor Vehicles | 1 | 43 | * 1 for both | |||||||
| 17 | ||||||||||
| Add Other Income | ||||||||||
| Income Received from Investments | 4 | 4 | 1 | |||||||
| Profit for the Year | 21 | 5.0 | ||||||||
| Less Corporation Tax (25%) | 5.25 | 1 | ||||||||
| 15.75 | ||||||||||
| Add Unappropriated Profit | 9 | 1 | ||||||||
| 24.75 | ||||||||||
| Less | 180000.0 | 45000.0 | ||||||||
| Interim Ordinary Dividend | 5 | |||||||||
| Final Ordinary Dividend | 5 | 10 | 1 for both | |||||||
| Goodwill write down | 3 | 1 | ||||||||
| General Reserve | 4 | 17 | 1 | |||||||
| Unappropriated Profit | 7.75 | |||||||||
| Keith and Joseph PLC | ||||||||||
| Statement of Financial Position as at 31 December Year 5 | 15.0 | |||||||||
| COST | DEPN | NBV | ||||||||
| £OOO | £OOO | £OOO | ||||||||
| Non-Current Assets | ||||||||||
| Plant and Machinery | 125 | 23 | 102 | 1 | ||||||
| Motor Vehicles | 10 | 3 | 7 | 1 | ||||||
| Intangible Assets: Goodwill | 8 | 1 | ||||||||
| Intangible Assets: Preliminary Expenses | 3 | * | ||||||||
| 120 | ||||||||||
| Investments (MV £24,000) | 20 | *1 for both | ||||||||
| 140 | ||||||||||
| Current Assets | ||||||||||
| Closing Inventory | 7 | * | ||||||||
| Trade Receivables | 16 | * | ||||||||
| Provision for Bad Debts | 0 | 16 | ||||||||
| Cash and Cash Equivalents | 6 | * | ||||||||
| Selling Expenses Receivable | 4 | * 3 for all correct, 2 for three correct, 1 for two correct, 0 if only 1 correct | ||||||||
| 33 | ||||||||||
| Current Liabilities | ||||||||||
| Trade Payables | 11 | * | ||||||||
| Corporation Tax Payable | 5.25 | * | ||||||||
| Admin Expenses Payable | 2 | 18.25 | * 2 if all correct, 1 if two correct, 0 if only 1 correct | |||||||
| Working Equity | 14.75 | |||||||||
| Net Assets Employed | 154.75 | |||||||||
| Non-Current Liabilities | ||||||||||
| 10% Debentures | 20 | 20 | 1 | |||||||
| Net Assets | 134.75 | |||||||||
| EQUITY | ||||||||||
| 100,000 £1 Ordinary Shares | 100 | 100 | 1 | |||||||
| Reserves | ||||||||||
| Unappropriated Profit | 7.75 | 1 | ||||||||
| General Reserve | 19 | 1 | ||||||||
| Share Premium | 8 | 34.75 | 1 | |||||||
| 134.75 | 1 HLA |