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    MIN THANT
    The document provides financial information for Musez Ltd for the year ended 31 December 2020, including balances for various asset, liability, equity, and income accounts. It also notes that on 1 February 2020 a final dividend of $0.15 per share was paid, and on 1 April 2020 a machine was sold for less than its carrying value. The information is intended to help answer questions related to parts (b), (c) and (d) of Question 3.

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    31 views3 pages
    The document provides financial information for Musez Ltd for the year ended 31 December 2020, including balances for various asset, liability, equity, and income accounts. It also notes that on 1 February 2020 a final dividend of $0.15 per share was paid, and on 1 April 2020 a machine was sold for less than its carrying value. The information is intended to help answer questions related to parts (b), (c) and (d) of Question 3.

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    The document provides financial information for Musez Ltd for the year ended 31 December 2020, including balances for various asset, liability, equity, and income accounts. It also notes that on 1 February 2020 a final dividend of $0.15 per share was paid, and on 1 April 2020 a machine was sold for less than its carrying value. The information is intended to help answer questions related to parts (b), (c) and (d) of Question 3.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    31 views3 pages

    Exam

    Uploaded by

    MIN THANT
    The document provides financial information for Musez Ltd for the year ended 31 December 2020, including balances for various asset, liability, equity, and income accounts. It also notes that on 1 February 2020 a final dividend of $0.15 per share was paid, and on 1 April 2020 a machine was sold for less than its carrying value. The information is intended to help answer questions related to parts (b), (c) and (d) of Question 3.

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    FA-Tutorial

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    Question (2) (July 2021)

    Question-1
    Resource
    " for Question 3 – Parts (b), (c) and (d).
    Musez Ltd provided the following information for the year ended 31 December 2020.

    1 January 31 December
    2020 2020
    $ $
    Plant and machinery
    – cost 121 300 149 600
    – provision for depreciation 72 780 82 870

    6% bank loan (2020) 50 000 –

    Bank 3 660 11 590 Cr

    Cash 1 000 300

    Inventory 61 620 58 930

    Share capital – ordinary shares of $1 each 50 000 50 000

    Share premium 6 000 6 000

    Retained earnings 11 345 66 610

    Trade payables 26 390 22 980

    Trade receivables 28 935 31 220

    On 1 February 2020 a final dividend of $0.15 per share was paid.


    On 1 April 2020 a machine costing $12 950 with accumulated depreciation of $8 750 was
    sold for $3 500

    (16)

    •
    88

    Baek
    P67789A
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    Chapter (12)
    Consolidated Financial Statement

    Sooooo
    Question (1) -35dm
    (Dec 2020)

    Question-2
    Tft
    Resource for Question 3.
    On 1 April 2019 Bee plc acquired 56 000 ordinary shares in CD Ltd.
    The directors provided the following information.

    Bee plc CD Ltd


    At 31 March 2020
    $ $

    6% debenture (2020) 7 000 –

    8% debenture (2025) 38 000 –

    Cash and cash equivalents 8 900 2 500

    Inventory 71 250 31 400

    Investment in CD Ltd 85 000 –

    Property, plant and equipment – carrying value 291 300 75 100

    Retained earnings 224 300 40 400

    Share capital (ordinary shares of $1 each) 225 000 70 000

    Tax payable 15 000 7 400

    Trade and other payables 41 950 18 100

    Trade and other receivables 94 800 26 900

    Profit for the year ending 31 March 2020 for CD Ltd was $36 000

    (20 Marks)

    107
    Bae

    Bethpage
    P65376A
    BAGGOTT
    •
    3

    7
    Stopgaps

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    82 Bookkeeping & Accounting

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