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Financial Decision Making Assessment

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Added on: 2023-02-21 08:03:15
Order Code: CLT315383
Question Task Id: 0

1. You have been asked by a client to advice on the financial position of two companies in a similar trade sector. You have been supplied with the following financial statements.

Notes to the financial statements:

A. The non?current assets held by the companies are as follows:

B. Trade and other payables for both companies include a proposed dividend. James Ltd has proposed a dividend of £50,000 and Smith Ltd a dividend of £40,000.

2. Write down the main features of a company and also define the advantages and disadvantages  of running a business as a company?

3. Khan Limited trial balance at 31 March 2015 was as follows.

The following additional information is also available at 31 March 2015: 

(1) Closing inventory (stock) is £7,120 

(2) Salaries and wages of £3,610 were unpaid.  

(3) £670 of Rent was paid in advance at 31-03-2015.  

(4) Depreciation for the year to 31 March 2015 is to be provided as follows:  

Plant and Machinery - 10% straight line method. 

Equipment - 5% straight line method.  

Motor vehicle - on a reducing balance basis at 10% per year.  

(5) Tax for the year was £3,200.

4. Explain the following accounting concepts with examples:

(1) Business Entity
(2) Prudence

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  • Uploaded By : Katthy Wills
  • Posted on : February 21st, 2023
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