Instructions to students: All questions are compulsory
Dictionaries are not permitted.
TASK: BS1004 Introduction to Accounting & Finance Assignment for Business & Management
The accountant of Signet Ltd. has prepared the following trial balance on 30th April 2013:
|Inventory 1st May 2012||39,740|
|Fixtures and fittings :|
|Ordinary share capital (shares £1 each)||65,000|
|7% 2018 debentures||24,000|
|Retained Profit 1st May 2012||11,610|
|Share premium account||14,000|
|Cash at bank and in hand||53,200|
- Inventory at 30th April 2013 was valued at £65,000.
- Corporation tax on profits at 30th April 2013 is estimated to be £12,000.
- Fixtures and fittings are depreciated at an annual rate of 20% of cost.
- A dividend of 10 pence per share on ordinary shares is proposed to be paid.
- 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:
- a) Income statement for the year to 30th April 2013(15 marks)
- 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:
Income statement for the year to 31st December 2012
Statements of financial position at 31st December 2012
There were no disposals of non-current assets during the year to 31 December 2012
Prepare a statement of cash flow for the year to 31st December 2012.(20 marks)