FINANCIAL STATEMENTS PRACTISE PAPER ANSWERS STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF FINANCIAL POSITION Non-current assets PPE Current

assets Trade & other receivables Inventory Cash & cash equivalents 55104 25804 9222 35026 Expenses Distribution cost Administration costs

Sales Cost of sales Opening stock Purchases Depreciation Closing stock Gross profit Other icome Revaluation

80908 5064 53444 3600 -7004

Total assets Equity & liabilities Share capital Revaluation reserve Retained earnings

11937 7379 19316 15710 640 15070 1254 13816

Non-current liabilities Loan

Net profit b4 interest paid Interest paid Net profit after interest Tax Total income for the year

Current liabilities Trade & other payables Accruals tax

Total Equity & liabilities Notes to financial statements 1.PPE Cost @ e beg Additions Cost @ e end Depr @ e beg Additions Depr @ e end NBV Land Buildings Ppe Totals 41778 40000 24000 105778 0 0 0 0 41778 40000 24000 105778 0 0 0 41778 14000 2000 16000 24000 8000 4000 12000 12000 22000 6000 28000 77778

NT OF FINANCIAL POSITION

77778

her receivables

h equivalents

9862 7004 1568 18434 96212

50000 21222 21761 92983

16000

her payables

5502 16000 1254 22756 131739 -130171

y & liabilities