Consolidated Statement of Financial Position of Pot

This document provides the consolidated statement of financial position of Pot as on 31st Dec. 2019. It includes details of equity and liabilities, non-current assets, and current assets.

Online Exam

Contents
Question 1........................................................................................................................................3
Question 2........................................................................................................................................3
Question 3........................................................................................................................................4
Question 4........................................................................................................................................4

Question 1
Consolidated statement of financial position of Pot as on 31st Dec. 2019
Equity and Liabilities Amount
Shareholder's Fund
Share Capital 420
Reserve and Surplus 594
Minority Interest 686
Non-Current Liabilities
8% Loan 340
Current Liabilities
Trade Payables 204
Current Tax 256
Total 2500
Assets
Non-Current Assets
Fixed Assets
Tangible Assets
Property, plant and Equipment 670
Intangible Assets 436
Long term Investment 760
Loan Receivables 100
Current Assets
Inventory 189
Cash and Bank 345
Total 2500
Question 2
a) Zorb’s statement of profit and loss statement
P&L for the year ending 31 March 2020
Amount Amount
Revenues £345,000
Less: Cost of sales £174,000

Gross Profit £171,000
Less: Operating expenses
Distribution cost £12,200
Administrative exp £18,500
Current service cost £5,800 £36,500
Net profit before interest £134,500
Less: Interest paid 1600
Less: Net pension interest £4,100
Net Profit after interest £128,800
c) Statement of financial position
Question 3
Cash Flow statement of Fern PLC
Opening balance of cash 420
Net profit before tax 714
Less: Increase in current asset due to held for sale
plant 210
Increases in inventory 30
Trade receivables 850
Decrement in current liabilities 30
1834
Add: Taxation 305
Bank overdraft 371
676 -1158
Cash flow from investing activities
Purchase of plant -1720
Decrement in finance asset investment 110
Government grant 300 -1310
Cash flow from finance activities
Share issue 1300
Increase in retain earning 384 1684
Closing balance of cash -364
Question 4
Question 4.

A) Present value of the lease= since the last purchase is received, you would like to achieve the true
value or perhaps a cash position. It is presumed to be 0 if fv is omitted (the future value of a loan,
for example, is 0). For instance, if they decide to invest $50,000 in 18 years to fund for a specific
project, therefore the potential value is $50,000. At such an interest rate, you also could take a
conservative calculation and calculate how much you'd save every month. If fv is removed, you
need to add the argument for pmt.
B) Statements
Sales 66,000 74,000
Marginal cost of sales:
Opening Stock - 7,800
Add variable production costs:
Variable 50,700 42,900
Less closing stock 1, 2 7,800 2,600
Marginal cost of sales 42,900 48,100
Fixed manufacturing costs 9,000 9,000
Selling & Administration
Costs(fixed) 5,200
Gross profit 8,900 16,900
C) IAS 36
IAS 36 Impairment Charges aims to ensure that perhaps the resources of an individual do not
hold upwards of the retrievable sum (i.e. the higher of fair value less costs of disposal and value
in use). Excluding reputation and some fixed assets in which an incremental exercise test is
needed, where there is an implied warranty of an asset, companies are allowed to conduct
impairment assessments as well as the test can be performed for a 'money unit' if an asset doesn't
really produce an asset.
D) Impairments
Inflows which are largely separate from that of other properties. IAS 36 became reprinted in
March 2004 and refers to goodwill gained in company transactions on or after march 31 2004,
but to all such resources from the start of the very first cumulative period commencing on or
around 31 March 2004, respectively.