The manager of a small plastic manufacturing company has reviewed the annual financial statements for the current year and is unable to determine from a reading of the balance sheet the reasons for the changes in cash during the year. He asks you for assistance and presents the following balance sheets of the Hypothetical Ltd.
Additional Information:
(i) There were no purchases or sales of tools.
(ii) Equity shares were issued at a discount of 10 per cent.
(iii) Old machinery that cost `2,250 was scrapped and written off the books. Accumulated depreciation on such equipment was `1,650.
(iv) The income statement for the current year is:
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here