The following is an incomplete statement of financial position of Bruno Limited as at 31 December2023:Bruno Limited.Statement of financial position as at 31 December 2023:ASSETSNon-current assetsProperty, plant and equipmentCurrent assetsInventoryTrade receivablesTotal assetsCapital and reservesShare capital and reservesIssued share capitalAccumulated profitNon-current liabilitiesInterest -bearing debtCurrent liabilitiesTrade and other payablesTotal equity and liabilities2023RNon-current assets. EquityNon-current liabilities: Equity288 000244 00040 000980 00020232022R48 000231 000100 00080 000Additional information:Selected financial ratios calculated from the above financial statements are as follows:2022612 0001.85:11.8.1 No new shares were issued during the year.Purchases for the year ended 31 December 2023 amounted to R620 000.REQUIRED:Re-draft and complete the statement of financial position of Bruno Limited as at 31 December2023Comparative figures are required.

A statement of financial position is a financial statement that presents a company's financial…

Answered: The following is an incomplete…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Prepare the Pro Forma Statement of Financial Position as at 31 December 2023 from the Statement ofFinancial Position and additional information provided below:INFORMATIONThe financial position of Gatti Limited as at 31 December 2022 is reflected the following statement:Statement of Financial Position as at 31 December 2022 R ASSETSNon-current assets 1 400 000Property, plant and equipment 1 200 000Fixed deposits 200 000Current assets 5 800 000Inventories 3 400 000Accounts receivable 2 000 000Cash and cash equivalents 400 000Total assets 7 200 000 EQUITY AND LIABILITIESEquity 4 680 000Ordinary share capital 3 600 000Retained earnings 1 080 000Non-current liabilities 720 000Long-term loan 720 000Current liabilities 1 800 000Accounts payable 1 800 000Total equity and liabilities 7 200 000 Additional informationThe following must be taken into account for 2023:■ Sales are forecast at R60 000 000, with a profit margin of 10% and a gross margin of 30%. Fifty percent(50%) of the sales is…
ABC Industry and Trade Inc. Balance Sheet as of 31.12.2020 (TL) transactions ASSETS(Assets) I-Current Assets Ready Values Securities Commercial debts Stocks Other Current Assets Current Assets Total I-Fixed Assets Financial Fixed Assets Tangible Fixed Assets Total Fixed Assets TOTAL ASSETS 31.12.2020 Amount Vertical Percent (%) 360.000 12 45.000 1.5 870.000 29 840.000 28 255.000 8.5 2.370.000 79 390.000 13 240.000 8. 630.000 21 3.000.000 100 LIABILITIES(RESOURCES) l-Short Term Liv. resources Financial Debts Trade payables Short Term Foreign Resource Total Il-Long-Term Liabilities Financial Debts Long Term Liv. Source Ball. III-Equity Paid-in capital Profit Reserves Net profit for the period Previous Year's profit Total Equity TOTAL LIABILITIES (RESOURCES) 39.000 1.3 120.000 4 159.000 5.3 81.000 2.7 81.000 2.7 120.000 4 420.000 14 1.950.000 65 270.000 9 2.760.000 92 3.000.000 100 Requested: Calculate the vertical percentages of the Balance Sheet items of ABC Sanayi ve Ticaret A.Ş. dated…
Mvula Limited Statement of Financial Position as at: 28 February 2021 ASSETS Non-current assets Fixed/tangible assets Financial assets Fixed deposit Current assets Inventory Trade and other receivables Cash and cash equivalents Fixed deposit TOTAL ASSETS 4 320 350 EQUITY AND LIABILITIES Bay Holdings Limited: 30 June 2021.Required:Statement of financial position as at: 30 June 2021InformationBALANCE SHEET ACCOUNTSOrdinary share capital 2 648 000Retained income (1 Jul 2020) 490 000Shareholders for dividends 280 000Fixed deposit 60 000Mortgage bond 336 000Fixed/tangible assets (Carrying value) 4 021 000Debtors control 45 000Creditors…
Below is a comparative statement of financial position for Egglestone Vibe Inc. as at December 31, 2021: Egglestone Vibe Inc. Statement of Financial Position Cash Accounts receivable Inventory Land Plant assets Assets: Investments-available for sale (OC) Additional Information: Accumulated depreciation-plant assets Goodwill(n) Total assets Liables and Equity: Accounts payable Dividend payable Notes payable Common shares Retained earnings Accumulated other comprehensive income Total liabilities and equity Required: December 31 2021 2020 $ 84,500 $ 37,706 113,100 76,700 302,900 235,300 81,900 109,200 84,500 133,900 507,000 560,000 (152,100) (111,800) 161,200 224,900 1.183.000 1,265,900 $ 38,100 $ 66,300 19,500 41,600 416,000 565,500 322,500 162,500 374,400 370.200 12,500 59,800 $1,163,000 $1,265,000 i. Net income for the 2021 fiscal year was $24,700. i. On March 1, 2021, land was purchased for expansion purposes. On July 12, 2021, another section of land with a carrying value of $111,800…
Balance Sheet ClassificationA balance sheet contains the following classifications:(a) Current assets (g) Long-term debt(b) Investments (h) Other noncurrent liabilities(c) Property, plant, and equipment (i) Capital stock(d) Intangible assets (j) Additional paid-in capital(e) Other noncurrent assets (k) Retained earnings(f) Current liabilitiesIndicate by letter how each of the following accounts would be classified. Place a minus sign (–) for all accounts representing offset or contra balances. 1. Discount on Bonds Payable 2. Stock of Subsidiary Corporation 3. 12% Bonds Payable (due in 6 months)
The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets. Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable. Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: 1. Net income is $91,560. 2. Sales on account are $1,416,800. (All sales are credit sales.) 3. Cost of goods sold is $1,098,500. 2024 $149,560 72,000 92,000 3,700 450,000 760,000 2023 450,000 640,000 (398,000) (238,000) $1,129,260 $1,136,700 $95,400 6,000 8,000 $117,000 89,000 77,000 1,700 $82,000 11,700 4,700 220,000 670,000 148,300 110,000 670,000 239,860 $1,129,260 $1,136,700 Required: 1. Calculate the…
The following data are taken from the ledger of PQR Co. Date Particulars Debit Credit 1/1/2017 Balance 6/30/2017 Dividends paid 12/31/2017 Netincome for 2017 2/7/2018 Premium in share capital 4/30/2018 Loss on sale of land 9/30/2018 Dividends paid 12/31/2018 Net income for 2018 12/31/2018 Revaluation surplus 7/1/2019 Gain on sale of treasury stock 12/31/2019 Net income 2019 80,600 25,000 42,500 10,000 5,000 20,000 5,800 40,000 1,600 33,700 Unrealized loss on FV OCI securities 3,400 What is the correct balance of Retained earnings on December 31, 2019?
The following is a December 31, 2021, post-ciosing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Hachinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Comnon stock Retained earnings Debits Credits $ 44,000 38,000 79,000 20,000 14,000 165,000 $ 15,000 83,000 10,000 6,000 36,000 180,000 140,000 56,000 Totals $443,000 $443,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classifying each of the accounts. (Amounts to be deducted should be Indicated by a minus sign.) Page 1
Q7. financial position. Assume that Masters Enterprises uses the following headings on its statement of Item Account headings (f) Non-current liabilities. (a) Investments. (g) Current liabilities. (b) Property, plant, and equipment. (h) Share capital. (c) Intangible assets. (i) Share premium. (d) Other assets. (j) Retained earnings. (e) Current assets. (k) Accumulated other comprehensive income. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter "N" to indicate this fact. If an item need not be reported at all on the statement of financial position, use the letter "X." Example: 1. Prepaid insurance. Current Asset 2. Investments in non-consolidated subsidiaries 3. Investments in the associated companies. 4. wasting resources (minerals) 5. Construction in progress 6. trade names 7. customer lists 8. Raw materials 9. Work in process 10. Finished goods 11. Spare parts
The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net Income is $150,600. 2. Sales on account are $1,215,500. (All sales are credit sales.) 3. Cost of goods sold is $973,400. Complete this question by entering your answers in the tabs below. a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 19.9 % 13.9 % %6 $208,600 60,000 86,000 3,100 times %6 390,000 390,000 700,000 580,000 (338,000) (178,000)…
07. financial position. Assume that Masters Enterprises uses the following headings on its statement of Item Account headings (f) Non-current liabilities. (g) Current liabilities. (h) Share capital. (a) Investments. (b) Property, plant, and equipment. (c) Intangible assets. (i) Share premium. (d) Other assets. (i) Retained earnings. (e) Current assets. (k) Accumulated other comprehensive income. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter "N" to indicate this fact. If an item need not be reported at all on the statement of financial position, use the letter "X." Example: Prepaid insurance. Current Asset 2. Investments in non-consolidated subsidiaries 3. Investments in the associated companies. wasting resources (minerals) Construction in progress 4. 5. 6. trade names 7. customer lists 8. Raw materials 9. Work in process 10. Finished goods | 11. Spare parts
The following are the balance sheet of ABC ltd. for the years 2020 and 2021. Prepare a comparative Balance sheet and comment on the financial position of the company Liabilities 2020 Equity share 600000 2021 800000 Assets Land Buildings & 2020 370000 2021 270000

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