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    Learning Aim C

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    isheikh
    This document contains 4 questions asking about financial concepts: 1) Complete an extract from a statement of financial position by calculating various financial values. 2) Complete an incomplete statement of financial position and calculate expected net book value. 3) Explain one effect of amortization on business final accounts. 4) Provide two examples of capital income for a small business.

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    Learning Aim C

    Uploaded by

    isheikh
    48 views6 pages
    This document contains 4 questions asking about financial concepts: 1) Complete an extract from a statement of financial position by calculating various financial values. 2) Complete an incomplete statement of financial position and calculate expected net book value. 3) Explain one effect of amortization on business final accounts. 4) Provide two examples of capital income for a small business.

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    Learning aim C

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    This document contains 4 questions asking about financial concepts: 1) Complete an extract from a statement of financial position by calculating various financial values. 2) Complete an incomplete statement of financial position and calculate expected net book value. 3) Explain one effect of amortization on business final accounts. 4) Provide two examples of capital income for a small business.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    48 views6 pages

    Learning Aim C

    Uploaded by

    isheikh
    This document contains 4 questions asking about financial concepts: 1) Complete an extract from a statement of financial position by calculating various financial values. 2) Complete an incomplete statement of financial position and calculate expected net book value. 3) Explain one effect of amortization on business final accounts. 4) Provide two examples of capital income for a small business.

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    © All Rights Reserved
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    Questions

    Q1.

    Ruksana runs a flower shop called Silva. She has given you the following financial information. It is
    incomplete, so she has asked you to complete it for her.

    Complete the Extract from the Statement of Financial Position for Silva by calculating:

    (i) vehicle cost

    (ii) equipment depreciation

    (iii) total net book value

    (iv) trade receivables

    (v) net current assets / liabilities.


    (5)
    (Total for question = 5 marks)

    Q2.
    Lowri leases a unit on an industrial estate where she prints the sweatshirts that are sold by her business
    which is called Lowri Printz. In her first year of trading, her output was 25 000 sweatshirts.

    Lowri produced the following financial information for her second year of trading.

    Extract of financial information at 31 December 2018

    Lowri has produced an outline statement of financial position at 31 December 2018 but it is incomplete.

    (a) Complete the statement of financial position for Lowri Printz by calculating:
    (i) the total current liabilities
    (ii) net current assets / liabilities
    (iii) net assets
    (iv) capital employed.
    (4)
    Lowri depreciates her non-current assets using the reducing balance method at a rate of 10% per annum.
    (b) Using the 31 December 2018 net book value (NBV) of £122 220, calculate the expected net book
    value of her non-current assets at 31 December 2019.
    Assume that no other non-current assets are bought and that none are sold.
    (2)

    (Total for question = 6 marks)

    Q3.

    Explain one effect of 'amortisation' on the final accounts of a business.

    .............................................................................................................................................

    .............................................................................................................................................

    .............................................................................................................................................

    .............................................................................................................................................

    (Total for question = 2 marks)

    Q4.
    Give two examples of capital income that a small business is likely to have.

    1 ..........................................................................................................................................

    .............................................................................................................................................

    2 ..........................................................................................................................................

    .............................................................................................................................................

    (Total for question = 2 marks)

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