1 2 Use The Following Information To Prepare The Pro Forma Statement Of Financial Position Of Digicel Limited As At 30 J 1 (45.12 KiB) Viewed 32 times
1 2 Use The Following Information To Prepare The Pro Forma Statement Of Financial Position Of Digicel Limited As At 30 J 2 (29.98 KiB) Viewed 32 times
1.2 Use the following information to prepare the Pro Forma Statement of Financial Position of Digicel Limited as at 30 June 2023. INFORMATION The Pro Forma Statement of Financial Position of Digical Limited as at 30 June 2022 is as follows: DIGICEL LIMITED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2022 ASSETS Non-current assets Fixed/Tangible assets Current assets Inventories Accounts receivable Cash and cash equivalents Total assets EQUITY AND LIABILITIES Equity Non-current liabilities Long-term loan Current liabilities Accounts payable Total equity and liabilities R (10 marks) 1 800 000 1 800 000 1 600 000 1 000 000 500 000 100 000 3 400 000 1 000 000 2 000 000 2 000 000 400 000 400 000 3 400 000
The following must be taken into account to prepare the Pro Forma Statement of Financial Position as at 30 June 2023: 1 1 1 1 1 1 1 Sales for the year ended 30 June 2022 were forecast at R2 000 000 and the sales for the year ended 30 June 2023 are estimated to be R3 500 000. The following must be calculated using the percentage-of-sales method: *Fixed/Tangible assets * Inventories * Accounts receivable *Accounts payable The business predicts the profit after tax to equal 10% of sales. Dividends of R200 000 are expected to be paid. The cash and cash equivalents balance is expected to be unchanged. R400 000 of the existing long-term loan will be repaid during the financial year ended 30 June 2023. The amount of external non-current funding must be calculated (balancing figure).
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!