What is the current portion of long-term liabilities reported in each year and for what type of liabilities? Balance SheetAs at June 30, 201620162015Note------ Rupees in '000 ------ASSETSNon current assetsProperty, plant and equipment153,168,6991,935,858Intangible assets1636,2152,048Investment in an associated company176,0193,321Long term loans and advances1810,88810,493Long term deposits1932,66733,5673,254,4881,985,287Current assetsStores and spares20496,552491,657Stocks211,570,5941,456,593Trade debts221,024,670851,269Loans and advances23101,47461,501Deposits and prepayments2466,130125,443Other receivables2568,90130,982Taxation - net112,849103,564Cash and bank balances26116,851241,7693,558,0213,362,778Total assets6,812,5095,348,065 Balance SheetAs at June 30, 201620162015Note - Rupees in '000 --EQUITY AND LIABILITIESShare capital and reservesAuthorized capital75,000,000 (2015: 75,000,000) ordinary shares of Rs. 10 each750,000750,000Issued, subscribed and paid-up capital597,713597,713Unappropriated profit2,351,8091,760,434Total equity2,949,5222,358, 147LiabilitiesNon current liabilitiesLong term finances920,276383,334Staff benefits6277,287241,157Deferred taxation7232,281210,871Long term deposits from dealers8.8,9308,9901,438,774844,352Current liabilitiesCurrent maturity of long term finances224,057116,666Short term finances143,88986,030Running finances under mark-up arrangements10621,020666,389Trade and other payables111,293,0361,183,356Accrued mark-up1232,92917,331Provisions13109,28275,7942,424,2132,145,566Total liabilities3,862,9872,989,918Contingencies and commitments14Total equity and liabilities6,812,5095,348,065

Liabilities are described as the amount which a business owes to the outside parties. These…

Balance Sheet As at June 30, 2016 2016 2015 Note ---- Rupeos in '000 --- ASSETS Non current assets Property, plant and equipment 15 3,168,699 1,935,858 Intangible assets 16 36,215 2,048 Investment in an associated company 17 6,019 3,321 Long term loans and advances 18 10,888 10,493 Long term deposits 19 32,667 33,567 3,254,488 1,985,287 Current assots Stores and spares 20 496,552 491,657 Stocks 21 1,570,594 1,456,593 Trade debts 22 1,024,670 851,269 Loans and advances 23 101,474 61,501 Deposits and prepayments 24 66,130 125,443 Other receivables 25 68,901 30,982 Taxation - net 112,849 103,564 Cash and bank balances 26 116,851 241,769 3,558,021 3,362,778 Total assets 6,812,509 5,348,065

Balance Sheet As at June 30, 2016 2016 2015 Note ---- Rupeos in '000 --- ASSETS Non current assets Property, plant and equipment 15 3,168,699 1,935,858 Intangible assets 16 36,215 2,048 Investment in an associated company 17 6,019 3,321 Long term loans and advances 18 10,888 10,493 Long term deposits 19 32,667 33,567 3,254,488 1,985,287 Current assots Stores and spares 20 496,552 491,657 Stocks 21 1,570,594 1,456,593 Trade debts 22 1,024,670 851,269 Loans and advances 23 101,474 61,501 Deposits and prepayments 24 66,130 125,443 Other receivables 25 68,901 30,982 Taxation - net 112,849 103,564 Cash and bank balances 26 116,851 241,769 3,558,021 3,362,778 Total assets 6,812,509 5,348,065

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

2 Given a set of present value tables, an annual interest rate, the dollar amount of equal payments made, and the number of semiannual payments, what other information is necessary to calculate the present value of the series of payments? A. The future value of the annuity. B. The timing of the payments (whether they are at the beginning or end of the period). C. The rate of inflation. D. No other information is required.
What is the current debt coverage ratio of the property? (Hint based on the first year's information).
Why does the APR term doEs not explain precisely the amount of interest that will accumulate in a year?
Express the term Effective interest rate per payment period, quarterly payments with weekly compounding?
In terms of an effective annual interest rate, how can the interest payment be rewritten?
What are the criteria for classifying an item as a current liability? What are some examples of current liabilities? Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? What is the implication of misclassifying a liability as current or long-term?
Illustrate the process of obtaining the future worth of the quarterly payment series?
Explain how the future value of an ordinary annuityinterest table is converted to the future value of an annuitydue interest table.
Discuss the process of accounting for long term bonds from issuance to sale or retirement
An annuity in which the first cash flow occurs at the beginning of the period is called a/an: Oordinary perpetuity. growth annuity. Oordinary annuity. annuity due.
Listen The future value of an annuity due is: one period after the final payment. one period before the final payment. at the same point in time as the final payment.
Accounting for liabilities involves recording and managing obligations a company owes to external parties. Liabilities are classified based on their nature and timing of settlement. Common types include: Current Liabilities: Debts or obligations expected to be settled within one year or the operating cycle, whichever is longer. Examples include accounts payable, accrued expenses, and short-term loans. Long-Term Liabilities: Obligations not due within the next operating cycle or one year. Examples include long-term loans, bonds payable, and lease obligations. Contingent Liabilities: Potential obligations that depend on a future event, such as lawsuits or warranties. They are disclosed in the footnotes of financial statements unless the likelihood of payment is remote. Deferred Revenue: Payments received in advance for goods or services to be provided in the future. They are recorded as liabilities until the revenue recognition criteria are met. Accrued Liabilities: Expenses…