Financial Decision Making Assessment
- University :
De Montfort University Leicerster Exam Question Bank is not sponsored or endorsed by this college or university.
- Country :
United Kingdom
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.
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Notes to the financial statements:
A. The non?current assets held by the companies are as follows:
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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.
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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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