BS1004 Introduction to Accounting & Finance Assignment for Business & Management-City, University of London

Instructions to students: All questions are compulsory

Materials:

Dictionaries are not permitted.

TASK: BS1004 Introduction to Accounting & Finance Assignment for Business & Management

Question 1

The accountant of Signet Ltd. has prepared the following trial balance on 30th April 2013:

Debit Credit
£ £
Sales 316,000
Purchases 204,500
Administration expenses 41,250
Distribution costs 10,620
Inventory 1st May 2012 39,740
Fixtures and fittings :
At cost 61,300
Accumulated Depreciation 22,800
Ordinary share capital (shares £1 each) 65,000
7% 2018 debentures 24,000
Debenture interest 1,680
Retained Profit 1st May 2012 11,610
Share premium account 14,000
Trade payables 18,610
Trade receivables 59,730
Cash at bank and in hand 53,200
472,020 472,020

Additional Information:

  1. Inventory at 30th April 2013 was valued at £65,000.
  2. Corporation tax on profits at 30th April 2013 is estimated to be £12,000.
  3. Fixtures and fittings are depreciated at an annual rate of 20% of cost.
  4. A dividend of 10 pence per share on ordinary shares is proposed to be paid.
  5. The directors consider £1,200 of accounts receivable to be bad debt and should therefore be written off.

Required:Prepare the following financial for Signet Ltd:

  1. a) Income statement for the year to 30th April 2013(15 marks)
  1. b) Statement of financial position (balance sheet) as at 30th April 2013(15 marks) (Total: 30 marks)

Question 2: BS1004 Introduction to Accounting & Finance Assignment-City, University of London

You are presented with the following information for Cameron Ltd:

Cameron Limited

Income statement for the year to 31st December 2012

BS1004 Introduction to Accounting & Finance

Cameron Limited

Statements of financial position at 31st December 2012

BS1004 Introduction_to Accounting & Finance

There were no disposals of non-current assets during the year to 31 December 2012

Required:

Prepare a statement of cash flow for the year to 31st December 2012.(20 marks)

ORDER This AS1201 BS1004 Introduction to Accounting & Finance Assignment NOW And Get Instant Discount

Order Your Assignment