depreciated £370; Van to be valued at £5,440; Debtors £29,400; Prepaid wages £460. You are required to Calculate Walid’s capital at 31 December 2013; and to Prepare the Statement of Affairs as at 31 Dec. 2014. Question No. 4 12 Marks Use the following information to prepare the Statement of Cash Flow for Rami’s business, a grocery retailer. You are told that fixtures bought in 2014 cost £400, whilst a van was bought for £5,500. Rami’s Business balance sheets As At 31.12.2013 31.12.2014 £ £ £ £ Non-current assets Buildings 50,000 50,000 Fixtures less Depreciation 1,800 2,000 Van less Depreciation 3,920 7,400 55,720 59,400 Current assets Inventory 5,000 12,400 Trade accounts receivable 7,000 8,200 Bank 900 - Cash 220 200 13,120 20,800 assets 68,840 80,200 Current liabilities Accounts payable 6,300 3,006 Bank overdraft - 94 6,300 3,100 Non-current liabilities Loan for 10 10,000 17,000 Liabilities (16,300) (20,100) Net assets 52,540 60,100
depreciated £370; Van to be valued at £5,440; Debtors £29,400; Prepaid wages £460. You are required to Calculate Walid’s capital at 31 December 2013; and to Prepare the Statement of Affairs as at 31 Dec. 2014. Question No. 4 12 Marks Use the following information to prepare the Statement of Cash Flow for Rami’s business, a grocery retailer. You are told that fixtures bought in 2014 cost £400, whilst a van was bought for £5,500. Rami’s Business balance sheets As At 31.12.2013 31.12.2014 £ £ £ £ Non-current assets Buildings 50,000 50,000 Fixtures less Depreciation 1,800 2,000 Van less Depreciation 3,920 7,400 55,720 59,400 Current assets Inventory 5,000 12,400 Trade accounts receivable 7,000 8,200 Bank 900 - Cash 220 200 13,120 20,800 assets 68,840 80,200 Current liabilities Accounts payable 6,300 3,006 Bank overdraft - 94 6,300 3,100 Non-current liabilities Loan for 10 10,000 17,000 Liabilities (16,300) (20,100) Net assets 52,540 60,100
AP2-Final151.docx