| 1.59 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION |
|---|---|---|---|---|---|
| Norman and Bates PLC | |||||
| Appropriation Account for the year ended 30 June Year 5 | |||||
| £OOO | £OOO | £OOO | |||
| Profit for the Year (before Corporation Tax) | 40 | ||||
| Less Corporation Tax (25%) | 10 | ||||
| Profit for the Year (after Corporation Tax) | 30 | ||||
| Add Unappropriated Profit (left over from last year!!) | 10 | ||||
| 40 | |||||
| Less | |||||
| Preference Dividend | 5 | ||||
| Interim Ordinary Dividend | 10 | ||||
| Final Ordinary Dividend | 10 | 20 | |||
| General Reserve | 5 | 30 | |||
| Unappropriated Profit | 10 | ||||
| Norman and Bates PLC | |||||
| Statement of Financial Position as at 30 June Year 5 | |||||
| COST | DEPN | NBV | |||
| £OOO | £OOO | £OOO | |||
| Non-Current Assets | |||||
| Property | 150 | 0 | 150 | ||
| Vehicles | 90 | 30 | 60 | ||
| Fittings | 30 | 10 | 20 | ||
| Intangible Assets: Preliminary Expenses | 10 | ||||
| 240 | |||||
| Investments | 0 | ||||
| 240 | |||||
| Current Assets | |||||
| Closing Inventory | 60 | ||||
| Trade Receivables | 45 | ||||
| Provision for Bad Debts | 0 | 45 | |||
| Cash and Cash Equivalents | 35 | ||||
| Advertising Receivable | 10 | ||||
| 150 | |||||
| Current Liabilities | |||||
| Trade Payables | 35 | ||||
| VAT | 10 | ||||
| Insurance Payable | 5 | ||||
| Corporation Tax Payable | 10 | 60 | |||
| Working Equity | 90 | ||||
| Net Assets Employed | 330 | ||||
| Non-Current Liabilities | |||||
| 10% Debentures | 30 | 30 | |||
| Net Assets | 300 | ||||
| EQUITY | |||||
| 50,000 10% Preference Shares of £1 each | 50 | ||||
| 200,000 Ordinary Shares of £1 each | 200 | 250 | |||
| Reserves | |||||
| Unappropriated Profit | 10 | ||||
| General Reserve (35+5) | 40 | ||||
| Share Premium | 0 | 50 | |||
| 300 |