Quick ask on indirect accounting?
Given the following;
"Dividends of 7,000 be declared & rewarded during the year. New plant assets be purchased for 195,000. Also, environment be purchased for brass. Plant assets be sold for 25,000 currency. Additional stock be issued for dosh, and a porition of the wall loan be repaid."
Now I follow the concept, i'm only just surrounded by the grey as far as adjust respectively lower than the right business buzz.
My ask is would the following be the appropriate process of placing these adjustment? Thanks.
Dividends of 7,000 = -7000 currency beneath Financing
New Plant Assets purch. 195,000 = -195,000 brass Investing
Land purchased ( look at Balance sheet, find difference between year 06-07 which = 80,000) = -80,000 dosh investment
Plant assests sold for 25,000 dosh = +25,000 currency investing or is this purely operating/cash?
Addtl stock (B/S sheet) Common stock, +150,000 Financing
Bank loan repaid (B/S Sheet) -30,000 Financing
Answers:
Dividends of 7,000 = -7000 cash lower than Financing (Correct)
New Plant Assets purch. 195,000 = -195,000 dosh Investing
(Correct - fashion sure this is at cost and not the nbv)
Land purchased ( look at Balance sheet, find difference between year 06-07 which = 80,000) = -80,000 lolly investment - (Actually you should look at the record to the accounts underneath PPE and look out for additions at cost. If this is 80k, later you're correct.)
Plant assets sold for 25,000 change = +25,000 currency investing or is this merely operating/cash? (The gross proceeds shd be beneath investing, but any gain/loss on disposal shd be used to to profit in the past tariff contained by the top partially of the change flow statement)
Addtl stock (B/S sheet) Common stock, +150,000 Financing (Correct)
Bank loan repaid (B/S Sheet) -30,000 Financing (Correct)
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"Dividends of 7,000 be declared & rewarded during the year. New plant assets be purchased for 195,000. Also, environment be purchased for brass. Plant assets be sold for 25,000 currency. Additional stock be issued for dosh, and a porition of the wall loan be repaid."
Now I follow the concept, i'm only just surrounded by the grey as far as adjust respectively lower than the right business buzz.
My ask is would the following be the appropriate process of placing these adjustment? Thanks.
Dividends of 7,000 = -7000 currency beneath Financing
New Plant Assets purch. 195,000 = -195,000 brass Investing
Land purchased ( look at Balance sheet, find difference between year 06-07 which = 80,000) = -80,000 dosh investment
Plant assests sold for 25,000 dosh = +25,000 currency investing or is this purely operating/cash?
Addtl stock (B/S sheet) Common stock, +150,000 Financing
Bank loan repaid (B/S Sheet) -30,000 Financing
Answers:
Dividends of 7,000 = -7000 cash lower than Financing (Correct)
New Plant Assets purch. 195,000 = -195,000 dosh Investing
(Correct - fashion sure this is at cost and not the nbv)
Land purchased ( look at Balance sheet, find difference between year 06-07 which = 80,000) = -80,000 lolly investment - (Actually you should look at the record to the accounts underneath PPE and look out for additions at cost. If this is 80k, later you're correct.)
Plant assets sold for 25,000 change = +25,000 currency investing or is this merely operating/cash? (The gross proceeds shd be beneath investing, but any gain/loss on disposal shd be used to to profit in the past tariff contained by the top partially of the change flow statement)
Addtl stock (B/S sheet) Common stock, +150,000 Financing (Correct)
Bank loan repaid (B/S Sheet) -30,000 Financing (Correct)
send sandy an email for doing your home work -- will not grant you a star but will tender her a point!