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    Ru Advanced Accounting Exercise

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    prince matambo
    The company's profit for the year increased to K32.4 million in 2020 from K12.6 million in 2019. Total dividends paid also increased, reaching K16.2 million in 2020 compared to K8.4 million in 2019. According to the statement of financial position, the company's total assets increased significantly to K100.5 million in 2020 from K39.2 million in 2019, driven mainly by increases in plant and equipment and current assets. Total liabilities also increased to K66.3 million compared to K21.2 million the previous year.

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    Ru Advanced Accounting Exercise

    Uploaded by

    prince matambo
    151 views1 page
    The company's profit for the year increased to K32.4 million in 2020 from K12.6 million in 2019. Total dividends paid also increased, reaching K16.2 million in 2020 compared to K8.4 million in 2019. According to the statement of financial position, the company's total assets increased significantly to K100.5 million in 2020 from K39.2 million in 2019, driven mainly by increases in plant and equipment and current assets. Total liabilities also increased to K66.3 million compared to K21.2 million the previous year.

    Original Description:

    an exercise on accounting

    Original Title

    RU ADVANCED ACCOUNTING EXERCISE

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    The company's profit for the year increased to K32.4 million in 2020 from K12.6 million in 2019. Total dividends paid also increased, reaching K16.2 million in 2020 compared to K8.4 million in 2019. According to the statement of financial position, the company's total assets increased significantly to K100.5 million in 2020 from K39.2 million in 2019, driven mainly by increases in plant and equipment and current assets. Total liabilities also increased to K66.3 million compared to K21.2 million the previous year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    151 views1 page

    Ru Advanced Accounting Exercise

    Uploaded by

    prince matambo
    The company's profit for the year increased to K32.4 million in 2020 from K12.6 million in 2019. Total dividends paid also increased, reaching K16.2 million in 2020 compared to K8.4 million in 2019. According to the statement of financial position, the company's total assets increased significantly to K100.5 million in 2020 from K39.2 million in 2019, driven mainly by increases in plant and equipment and current assets. Total liabilities also increased to K66.3 million compared to K21.2 million the previous year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    Income Statement extracts for the year Ended 31 December

    2020 2019
    K`000 K`000
    Profit before taxation 42,800 19,000
    Taxation - 10,400 - 6,400
    Profit for the year 32,400 12,600

    2020 2019
    Note: Dividends paid K`000 K`000
    Preference 200 200
    Ordinary 16,000 8,200
    Total 16,200 8,400

    Statement of Financial Position at 31 December


    2020 2019
    K`000 K`000
    Non-Current assets
    Plant, Machiner and Equipment at cost 47,800 35,200
    Accumulated depreciation - 19,500 - 19,000
    28,300 16,200
    Current Assets
    inventory 18,000 4,000
    Accounts receivable 53,400 17,200
    Prepayments 800 600
    Cash and Cash Equivalents - 1,200
    72,200 23,000
    Total Assets 100,500 39,200
    Current Liabilities
    Bank Overdraft 32,400 -
    Accounts Payable 20,000 12,000
    Accruals 2,000 1,600
    Taxation 10,400 6,400
    64,800 20,000
    Non-Current liabilities
    15% Loan notes 1,500 1,200
    Total Liabilities 66,300 21,200
    Net Assets 34,200 18,000
    Equity
    Ordinary shares of K1 each 10,000 10,000
    10% Preference shares of K1 each 2,000 2,000
    Retained profits 22,200 6,000
    34,200 18,000

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