During 2020, the following transactions took place: 1. The owners introduced new capital in the form of cash £10,000. 2. Water bill for the year £2,000 and the owner paid £1,800 in cash at the end of the financial year. 3. Inventories total £60,000 was purchased on credit. 4. Inventories total £20,000 was purchased for cash. 5. Credit sales revenue during the year total £75,000 (cost £35,000). 6. Cash sales revenue during the year total £100,000 (cost £50,000). 7. Building continued to be rented at annual rental of £10,000. During the year, owner paid in cash £10,500 plus £1,000 towards the next year. 8. Rates on the premises were paid in cash during the year as follows: for the period 1 April 2020 to 31 March 2021 was £1,200. 9. Receipts from trade receivables total £52,000. 10.A new delivery van was bought for cash during the year for £16,000 and the useful life of the asset is 7 years. The expected residual value of the asset is £2,000. 11.Payments to trade payables total £40,000. 12. During the year total wages £12,000 was paid in cash however at the end of the year, the business found out £2,000 of wages for the last week of the year was not paid. 13. Bank Loan £10,200 full amount paid back during the year. 14. The owner brought in a machine for £5,000 to the business and the useful life of the asset is 4 years. The expected residual value of the assest is £1,000. 15. The short-term loan £5,000 received were deposited in the business bank account. 16. The corporation tax bill for 2020 is £10,000 half of which was paid in cash during the year and the balance was carried forward towards the next financial year. The business uses the straight-line method for depreciating its non-current assets.

The image uploaded is the calculation of Societe Generale Profitability ratios, shorter liquidity ratios, long-term liquidity ratios, and investment ratios for 2020, 2021, 2022. A base year of 2019 was also added. Evaluate the financial performance by comparing the three (3) years' financial performance that is 2020, 2021, and 2022 I have provided in the table with the base year.

Using the given information, create a pro forma balance sheet. Covering all Assets and Liabilities listed within both photos.

Below are three independent scenarios concerning the GST account balance and the effect on the Statement of Financial Position in the previous year (2023) and the current year (2024). SFP as at 31/3/2023 Scenario 1 GST liability of $267 Scenario 2 GST asset of $267 Scenario 3 GST asset of $267 SFP as at 31/3/2024 GST asset of $769 GST asset of $769 GST liability of $769 Required: Correctly insert the opening and closing balances into the three independent GST general ledger accounts provided in the answer booklet. Balance each of the three GST general ledger accounts and insert the opening balance for 1 April 2024.

Calculate the following profitability ratios for 2018 and 2019.  a. Gross profit ratio  b. Return on assets  c. Profit margin  d. assets turnover

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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 ?

Use the following financial statements and additional information. Assets Cash STREAMLINE INCORPORATED Comparative Balance Sheets June 30, 2021 and 2020 Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable. Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity STREAMLINE INCORPORATED Income Statement For Year Ended June 30, 2021 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Total operating expenses Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 2021 $ 100,200 73,000 63,000 4,900 241,100 147,000 (36,000) $ 352,100 $ 26,000 7,000 4,700 37,700 33,000 70,700 240,000 41,400 $ 352,100 $ 66,000 74,000 195,200 136,000 (12,000) $319,200 $ 772,000…

How are open encumbrances at year-end reported in the financial statements?

Joseph Bright lists the following transactions for the period ended 30 September 2017. Classify EACH item as follows: i. Write either capital or revenue in the expenditure type column to indicate the type of expenditure involved or EACH item. ii. Insert a-check mark (√) in the appropriate column to indicate whether the item is reported-in the Statement of profit or loss or in the Statement of financial position. The first one is done as an example. Description CLASSIFICATION OF EXPENDITURE Expenditure Type Statement where item should be reported Statement of Profit Statement of Example Wages of the computer operators 1 Cost of customizing software for use in business 2 Installing thief detection equipment 3 Cost of paper used for printing receipts during the year 4 Cost of toner used by the computer printer 5 Cost of adding extra memory to the compute or loss Revenue financial position