Based on the relationships in the Income statement and Statement of Financial Position, determine the missing figures for each of the 3 companies. GRANT NATLEU AMT LTD LTD LTD Year end 31/12/2017 31/12/2019 31/12/2018 GH e GH e GH e DEBTORS 25,000 013 40,000 COST OF SALES 014 324,000 OTHER INCOME 4,000 015 12,000 LONG TERM INVESTMENT Q2 30,000 Q25 EQUITY 72,000 Q16 280,000 TOTAL ASSETS Q3 130,000 Q26 BANK FIXED ASSETS (ACCUMULATED DEP) 4,000 8,000 12,000 40,000 Q17 168,000 FIXED ASSETS (COST) FIXED ASSETS (NET BOOK VALUE) Q4 200,000 420,000 80,000 Q18 Q27 GROSS PROFIT Q5 200,000 Q28 CURRENT ASSETS 36,000 Q19 Q29 RETAINED EARNINGS Q6 25,000 80,000 EXPENSES 07 20,000 93,000

Based on the relationships in the Income statement and Statement of Financial Position, determine the missing figures for each of the 3 companies. GRANT NATLEU AMT LTD LTD LTD Year end 31/12/2017 31/12/2019 31/12/2018 GH e GH e GH e DEBTORS 25,000 013 40,000 COST OF SALES 014 324,000 OTHER INCOME 4,000 015 12,000 LONG TERM INVESTMENT Q2 30,000 Q25 EQUITY 72,000 Q16 280,000 TOTAL ASSETS Q3 130,000 Q26 BANK FIXED ASSETS (ACCUMULATED DEP) 4,000 8,000 12,000 40,000 Q17 168,000 FIXED ASSETS (COST) FIXED ASSETS (NET BOOK VALUE) Q4 200,000 420,000 80,000 Q18 Q27 GROSS PROFIT Q5 200,000 Q28 CURRENT ASSETS 36,000 Q19 Q29 RETAINED EARNINGS Q6 25,000 80,000 EXPENSES 07 20,000 93,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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