| 1.61 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | SOLUTION |
|---|---|---|---|---|---|
| Norris PLC | |||||
| Appropriation Account for the year ended 30 June Year 10 | |||||
| £OOO | £OOO | £OOO | |||
| Profit for the Year (before Corporation Tax) | 280 | ||||
| Less Corporation Tax (25%) | 70 | ||||
| Profit for the Year (after Corporation Tax) | 210 | ||||
| Add Unappropriated Profit | 25 | ||||
| 235 | |||||
| Less | |||||
| Preference Dividend | 8 | ||||
| Interim Ordinary Dividend | 15 | ||||
| Final Ordinary Dividend | 20 | 35 | |||
| General Reserve | 20 | 63 | |||
| Unappropriated Profit | 172 | ||||
| Norris PLC | |||||
| Statement of Financial Position as at 30 June Year 10 | |||||
| COST | DEPN | NBV | |||
| £OOO | £OOO | £OOO | |||
| Non-Current Assets | |||||
| Property | 310 | 15 | 325 | ||
| Motor Vehicles | 220 | 70 | 150 | ||
| Fixtures and Fittings | 100 | 42 | 58 | ||
| Intangible Assets: Goodwill | 50 | ||||
| Intangible Assets: Preliminary Expenses | 0 | ||||
| 583 | |||||
| Investments | 0 | ||||
| 583 | |||||
| Current Assets | |||||
| Closing Inventory | 142 | ||||
| Trade Receivables | 130 | ||||
| Provision for Bad Debts | 0 | 130 | |||
| Cash and Cash Equivalents (95-20) | 75 | ||||
| Advertising Receivable | 32 | ||||
| 379 | |||||
| Current Liabilities | |||||
| Trade Payables | 72 | ||||
| Wages Payable | 18 | ||||
| VAT | 25 | ||||
| Corporation Tax Payable | 70 | 185 | |||
| Working Equity | 194 | ||||
| Net Assets Employed | 777 | ||||
| Non-Current Liabilities | |||||
| 10% Debentures | 80 | 80 | |||
| Net Assets | 697 | ||||
| EQUITY | |||||
| 80,000 10% Preference Shares of £1 each | 80 | ||||
| 350,000 Ordinary Shares of £1 each | 350 | 430 | |||
| Reserves | |||||
| Unappropriated Profit | 172 | ||||
| General Reserve (40+20) | 60 | ||||
| Share Premium (25-5) | 20 | ||||
| Revaluation Reserve | 15 | 267 | |||
| 697 |