Section A:
NMD Retail is a company that manufactures and sells tables.Using the company’s financial information provided below, constructtheir Income Statement and then the Statement of Financial Positionfor the year ending 31st March 2018.
£’000
- Bankoverdraft 150
- Cash and cashequivalents 220
- Cost of goodssold 34,020
- Dividends 200
- Financingcosts 21,046
- Fixtures andfittings 2,875
- Interestreceived 559
- Inventories 8,500
- Land andbuildings 18,718
- Loans 27,946
- Long terminvestments 8,514
- Operatingexpenses 15,256
- Otherreceivables 10
- Plant 15,012
- Short terminvestments 160
- Short termLoans 1,310
- Taxationdue 7,850
- Taxationpaid 4,782
- Tradepayables 8,520
- Tradereceivables 8,420
- Turnover 83,254
- Vehicles 1,235
- Year beginning retainedearnings 2,256
Note: The dividend amount is outstanding and expected to be paidsoon. The shareholders’ equity is not listed, but should beinferred after calculating other amounts.
There is a maximum of 20 marks available for this question,10 for each of the statements.
