The following is the Balance sheet of Moin lilited as on 31st march 2020. You arerequired to comment on the Liquidity of the CompanyLiabilitiesAmount5,00,000Equity Share Capital 8%preferenceShare Capital10%long term loans14%debenturesSundry creditorsBills payableProvision for taxationProposed preference dividendBank overdraft3,00,0003,25,0001,50,00075,00030,00070,00024,00020,00014,94,000AssetsGoodwillPremisesMachineryTrade investmentsShort term investmentStockDebtorsBills payableCashPrepaid expensesAmount1,00,0003,00,0004,50,0001,00,00044,0001,75,0001,75,0001,25,00010,00015,00014,94,000

The current ratio is a measurement of the short-term solvency of an organization. This ratio refers…

Answered: The following is the Balance sheet of…

The following is the Balance sheet of Moin lilited as on 31st march 2020. You are required to comment on the Liquidity of the Company

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

List of accounts as of Dec. 31, 2022 of MAN Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2021 for inventory was $17,800. Accounts payable Accounts receivable Accumulated depreciation Advertising expense Allowance for uncollectible accounts. Cash Common Stock Computer supplies Cost of goods sold List of accounts Delivery expense Insurance expense- office building Interest expense Interest revenue Inventory Land Loss on the sale of equipment Notes payable (due in 2 years) Notes receivable (due in 2 months) Office equipment Office salaries expense Prepaid insurance Repairs expense-Office computer Retained earnings Dec. 31, 2022 Salaries payable Sales discounts Sales returns and allowances Sales revenue Sales salaries expense Short term investment Store supplies expense Unearned revenue 7,000 29,470 30,000 1,700 3,500 32,150 70,835 2,425 15,000 8,600 600 950 1,350 20,000 30,000 220 35,000 17,420 64,000 2,945 1.860 800 27,290 12,000 3,500…
1. Evluation of the company financial statement.
Which of the following alternatives represent the amount of non current liabilities in the statement of financial position of Shukela CC for the year ended 28 February20.19?
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…
https://www.republictt.com/pdfs/annual-reports/RFHL-Annual-Report-2022.pdf Financial Reporting Analysis: Use Republic Bank Limited Annual Report 2022 to answer the Questions. a) Evaluate the company’s latest annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide. b) Identify and discuss key accounting principles and standards applied in the company’s financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.) c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer, indicate whether the company complied with the accounting standards and conventions.
Review the Republic Financial Holdings Limited 2022 annual report. What recommendations can be made for the preparation of the financial statements ?
F. Based on Baker’s account balances, the amount of Net Income that would be shown on Baker’s Income Statement for December 2017 would be:
Swifty Park, a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2022 Revenues during 2022-camping fees $145,600 Revenues during 2022-general store 48,880 Accounts payable 11,440 Cash on hand 20,800 Original cost of equipment. 109,720 Fair value of equipment 145,600 Notes payable Expenses during 2022 Supplies on hand Common stock Retained earnings $62,400 156,000 2,600 20,800 ?
Show your workings for the question below; The summarised financial statements of LL Limited are as follows:” Profit & Loss Account/Income Statement for the year ended 31 December 2020 £000 Operating profit 80 Investment income 5 Interest payable (7) Profit before taxation 78 Taxation (14) Profit after taxation 64 Dividends payable (20) Retained profit 44 Balance Sheets 2020 2020 2019 2019 £000 £000 £000 £000 Fixed/Non-current assets Cost 370 290 Depreciation (70) (50) 300 240 Current assets Stock/inventory 95 70 Trade debtors/receivables 75 56 Short-term deposits 35 26 Bank 44 249 152 Current liabilities Trade creditors/payables 40 45 Interest payable 18 23 Taxation payable 10 12 Dividends payable 15 22 Bank…
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)…
Examine the following selected financial information for Best Value Corporation and Modern Stores, Inc., as of the end of their fiscal years ending in 2018: Data table (In millions) Best Value Corporation Modern Stores, Inc. 1. Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . $15,256 $203,110 2. Total common stockholders' equity. . . . . $3,075 $71,460 3. Operating income. . . . . . . . . . . . . . . . . . . . $1,350 $26,820 4. Interest expense. . . . . . . . . . . . . . . . . . . . . . $88 $2,020 5. Leverage ratio. . . . . . . . . . . . . . . . . . . . . . . . 6. Total debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. Debt ratio. . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. Times interest earned. . . . . . . . . . . . . . . . . Requirements…
White Ltd commenced business on 1 July 2017. An extract of the statement of financial position of White Ltd for the year ending 30 June 2019 and 2020 are shown below: Assets Cash Accounts receivable Allowance for doubtful debt 2019 $ 3,800 15,000 (600) 2020 $ 5,000 18,000 (880) Dividend receivable 800 380 Inventory Prepaid insurance Interest receivable Machinery Accumulated depreciation-machinery 13,000 3,800 700 14,000 2,000 500 40,000 (12,000) 35,000 500,000 (150,000) 40,000 (4,000) 25,000 500,000 (125,000) Land Building Accumulated depreciation- building Deferred tax asset 600 Liabilities Accounts payable Current tax liability Provision for Warranty Interest payable Debentures Dividend payable Deferred tax liability 2,000 350 600 3,000 400 700 900 1,200 15,000 5,000 200 17,000 5,000 Additional information: 1. Depreciation for accounting and tax purposes are 20% and 25% straight-line method, respectively. 2. Depreciation for building is non-deductible for tax purpose. 3. Bad debt…