Reference no: EM132539602
The following summarized statements of financial position relate to Track Limited:
Statements of financial position at 30 June
2014 2013
N$000 N$000
Non-current assets at cost 650 500
Less accumulated depreciation 300 200
350 300
Investment at cost 50 200
400 500
Current assets:
Inventory 700 400
Accounts receivable 1,550 1,350
Cash at bank - 100
2,250 1,850
Total assets 2,650 2,350
Current liabilities
Bank overdraft 60 -
Accounts payable 920 800
Taxation 190 230
Total liabilities 1,170 1,030
Net assets 1,480 1,320
Equity Called-up share capital (1 ordinary shares) 750 500
Share premium account 200 150
Retained profits 530 670
1,480 1,320
Additional information:
1. During the year to 30 June 2014, some non-current assets originally costing N$25,000 had been sold for N$20,000 in cash. The accumulated depreciation on these non-current assets at 30 June 2013 amounted to N$10,000. Similarly, some of the investments originally costing N$150,000 had been sold for cash at their book value.
2. The taxation balances disclosed in the above statements of financial position represent the actual amounts agreed with the revenue and customs. All taxes were paid on their due dates. Advance corporation tax may be ignored.
3. A dividend of N$130,000 was paid during the year to 30 June 2014.
4. During the year to 30 June 2014, the company made a 1-for-2 rights issue of 250 ordinary N$ shares at 120p per share.
Required:
Question 1: Prepare Track Ltd's statement of cash flows for the year to 30 June 2014.
|
Two major arguments for adoption of right to die
: Discuss the two major arguments for the adoption of a "right to die." Defend or refute proposal that active euthanasia is more ethical than passive euthanasia.
|
|
What amount receive as cash dividend by ordinary shareholder
: What amount received as cash dividends by ordinary shareholder's in 2019? What amount was received as cash dividends by preference shareholders
|
|
What about products that have largely been ignored
: Forecasting provides very useful projections for established products and services, but newly introduced products and services have wildly different success.
|
|
How does your saving and spending profile change
: How does your saving and spending profile change depending on the state of the economy, i.e., whether the economy is in a recession versus expansion?
|
|
Prepare track ltd statement of cash flows for the year
: Prepare Track Ltd's statement of cash flows for the year to 30 June 2014. The summarized statements of financial position relate to Track Limited
|
|
How many motorcycles are there
: The tyre sensor counted that a total of 164 tyres are on the parking space. So, how many motorcycles are there?
|
|
How long does both cars travel before meeting en route
: If both cars set out at the same time, how long does both cars travel (in minutes) before meeting en route?
|
|
Which one is the best for the long-term health of company
: There are many potential goals of a corporation, such as: minimize costs, maximize sales, maximize employment, maximize earnings, maximize shareholder wealth.
|
|
What is difference between diversity and inclusion
: What is the difference between diversity and inclusion? Give an example of how you would support diversity and inclusion in a work environment.
|