| 1.6 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION |
|---|---|---|---|---|---|
| Nebraska PLC | |||||
| Appropriation Account for the year ended 30 June Year 9 | |||||
| £OOO | £OOO | £OOO | |||
| Profit for the Year (before Corporation Tax) | 140 | ||||
| Less Corporation Tax (25%) | 35 | ||||
| Profit for the Year (after Corporation Tax) | 105 | ||||
| Add Unappropriated Profit | 18 | ||||
| 123 | |||||
| Less | |||||
| Preference Dividend | 6 | ||||
| Interim Ordinary Dividend | 15 | ||||
| Final Ordinary Dividend | 10 | 25 | |||
| General Reserve | 10 | ||||
| Goodwill Write Off | 10 | 51 | |||
| Unappropriated Profit | 72 | ||||
| Nebraska PLC | |||||
| Statement of Financial Position as at 30 June Year 9 | |||||
| COST | DEPN | NBV | |||
| £OOO | £OOO | £OOO | |||
| Non-Current Assets | |||||
| Property | 220 | 0 | 220 | ||
| Vehicles | 150 | 35 | 115 | ||
| Fittings | 45 | 20 | 25 | ||
| Intangible Assets: Goodwill | 0 | ||||
| Intangible Assets: Preliminary Expenses | 10 | ||||
| 370 | |||||
| Investments | 0 | ||||
| 370 | |||||
| Current Assets | |||||
| Closing Inventory | 85 | ||||
| Trade Receivables | 56 | ||||
| Provision for Bad Debts | 0 | 56 | |||
| Cash and Cash Equivalents (73-10) | 63 | ||||
| Insurance Receivable | 12 | ||||
| VAT | 8 | ||||
| 224 | |||||
| Current Liabilities | |||||
| Trade Payables | 58 | ||||
| Electricity Payable | 14 | ||||
| Corporation Tax Payable | 35 | 107 | |||
| Working Equity | 117 | ||||
| Net Assets Employed | 487 | ||||
| Non-Current Liabilities | |||||
| 10% Debentures | 50 | 50 | |||
| Net Assets | 437 | ||||
| EQUITY | |||||
| 60,000 10% Preference Shares of £1 each | 60 | ||||
| 250,000 Ordinary Shares of £1 each | 250 | 310 | |||
| Reserves | |||||
| Unappropriated Profit | 72 | ||||
| General Reserve (45+10) | 55 | ||||
| Share Premium | 0 | 127 | |||
| 437 |