Walter's trial balance at 31-Dec-2021 is shown below £ - Dr 210,000 Cost of Sales/Sales Admin Costs Equipment Cost/Depreciation Staff salaries Cash at Bank Inventory £2NV Shares Retained earnings Receivables/Payables Totals Notes 1) Outstanding salaries of £6,000 are due at year-end. 2) A 1:5 Bonus Issue was declared on 31-Dec-2021 but no entries have been posted. 3) During the year dividends of 10p per share were declared for all shareholders at 01-Jan-2021. 4) Equipment depreciation is 10% p.a. (straight line basis). 5) Company tax rates were 20%. Required: For year ending 31-Dec-2021: a) Financial Position Statement b) Income Statement c) Change in Equity Statement d) Calculate: Return on Capital Employed Profit Margin in Sales Dividend Cover Ratio £-Cr 750,000 26,000 160,000 64,000 22,000 495,000 27,000 100,000 60,000 69,000 35,000 1,009,000 1,009,000

DIMAG Ltd, an unquoted trading company, which prepares accounts to 31 March. The draft accounting profits for the year ended 31 March 2024 are £365,300. The following items have been added or deducted in arriving at the draft accounting profit. Depreciation Bonuses Qualifying donation Exempt dividends received Bank interest receivable Notes Note £ 24,200 1 50,000 2 7,600 3 2,700 4,000 1 DIMAG Ltd totalling £50,000 were paid by the company in respect of the period, on 2 March 2025. These were the first bonuses paid by the company. 2 The qualifying donation of £7,600 in the accounts comprises of £6,600 paid during the accounting period and an accrual of £1,000 that the company had agreed to pay but was not paid until 10 July 2024. 3 Exempt dividends of £2,000 were received from unrelated UK companies and £700 received from an unrelated German company. In addition, the following items have not yet been included in the accounts: · Legal fees in relation to an issue of share capital…

please question A and B is required.  A company has the following results for the year to 31 March 2020:                              £ Adjusted trading profit, after deduction of capital allowances                                    360,284 Bank deposit interest (a/c opened 1 July 2019): Received 31 December 2019                                                                                       9,957                                                                                                 Accrued to 31 March 2020                                                                                                                                                                                                                                      3,000 Dividend received in January 2020…

On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances:Accounts                                              Debit               CreditCash                                                     $ 58,700Accounts Receivable                               25,000Allowance for Uncollectible Accounts                         $ 2,200Inventory                                                36,300Notes Receivable (5%, due in 2 years)   12,000Land                                                     155,000Accounts Payable                                                        14,800Common Stock                                                          220,000Retained Earnings                                                        50,000Totals                                                  $ 287,000       $ 287,000During January 2021, the following transactions occur:January 1 Purchase equipment for $19,500. The company estimates a residual value of $1,500…

Meta Company reported sales revenue of P4,600,000 in the income statement for the year ended December 31, 2019. The entity wrote of uncollectible accounts tolling P20,000 during the current year 2018 2019 Accounts receivable 1,000,000 1,300,000 Allowance for uncollectible accounts 60,000 110,000 42. Under Cash basis, what amount should be reported as sales for the current year? а. 4,900,000 b. 4,350,000 c. 4,300,000 d. 4,280,000 43. What amount of bad debts are recognized for the current year? а. 60,000 b. 70,000 80,000 d. 110,000 С.

V Company reported sales revenue of P4,600,000 in the income statement for the year ended December 31, 2019. The entity wrote of uncollectible accounts tolling P20,000 during the current year 2018 2019 Accounts receivable 1,000,000 1,300,000 Allowance for uncollectible accounts 60,000 110,000 69. Under Cash basis, what amount should be reported as sales for the current year? а. 4,900,000 b. 4,350,000 c. 4,300,000 d. 4,280,000 70. What amount of bad debts are recognized for the current year? 60,000 b. 70,000 a. c. 80,000 d. 110,000

Cornhusker Company provides the following information at the end of 2021.Cash remaining $ 4,800Rent expense for the year 7,000Land that has been purchased 21,000Retained earnings 12,400Utility expense for the year 4,900Accounts receivable from customers 7,200Service revenue recognized during the year 37,000Salary expense for the year 13,300Accounts payable to suppliers 2,200Dividends paid to shareholders during the year 3,200Common stock that has been issued prior to 2021 16,000Salaries owed at the end of the year 2,400Insurance expense for the year 3,500Retained earnings at the beginning of the year 7,300Required:Prepare the income statement, statement of stockholders’ equity, and balance sheet for Cornhusker Company on December 31, 2021. No common stock is issued during 2021.

Sheridan Corporation had the following 2020 income statement. Revenues $95,000Expenses 63,000               $32,000 In 2020, Sheridan had the following activity in selected accounts.                                          Accounts Receivable1/1/20                    20,000Revenues               95,00012/31/20               22,100  Write-offs               900Collections          92,000                                 Allowance for Doubtful AccountsWrite-offs  900  1/1/20   1,200Bad debt expense 1,90012/31/20 2,200 (a) Prepare Sheridan’s cash flows from the operating activities section of the statement of cash flows using the direct method. Sheridan CorporationStatement of Cash Flows-Direct Method (Partial)     $   $ (b) Prepare Sheridan’s cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sheridan CorporationStatement of…

Excerpts of financial data of Matend Projects Limited for 2019 are as follows:   Statement of Comprehensive Income for the year ended 31 December 2019   R Revenue (all credit) 3 000 000 Gross profit 1 050 000 Operating profit 450 000 Profit before tax 420 000 Profit after tax 252 000   Statement of Financial Position as at 31 December 2019   R Assets   Non-current assets 585 000 Inventories 270 000 Accounts receivable 180 000 Cash 105 000   1 140 000 Equity and liabilities   Equity 750 000 Long-term loan 255 000 Accounts payable 135 000   1 140 000     Required Calculate and comment on the following ratios for 2019. (Where applicable, round off answers to two decimal places. Ratios for 2018 are provided in brackets):   3.1 Gross margin (2018: 40.45%) (5) 3.2 Debtor collection period (2018: 36.54 days)   3.3 Return on equity (2018:…

On January 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances:Accounts                                                Debit                  CreditCash                                                     $ 21,900Accounts Receivable                               36,500Allowance for Uncollectible Accounts                              $ 3,100Inventory                                                30,000Land                                                       61,600Accounts Payable                                                              32,400Notes Payable (8%, due in 3 years)                                   30,000Common Stock                                                                 56,000Retained Earnings                                                             28,500Totals                                                  $150,000             $150,000The $30,000 beginning balance of inventory consists of 300 units, each costing…