Entrepreneurial Finance for MSMEs by Joshua Yindenaba Abor

Author:Joshua Yindenaba Abor
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

2.What are the problems with financial statements?

3.Construct a statement of financial position for Hamza Enterprise Ltd. using the following financial information: land and building US$870,000; motor vehicle US$590,000; plant and equipment US$400,000 furniture and fittings US$469,000; inventory US$79,000; accounts receivable US$69,000; cash at bank US$72,000; cash in hand US$41,000; loan US$800,000; accounts payable US$50,000.

4.Prepare an income statement for ABL Limited given the information below: sales US$4,290,000; inventory at start US$378,000; Inventory at end US$249,000; depreciation is 30 % on cost (cost of motor vehicle and equipment are US$900,000 and US$700,000 respectfully); interest expense US$97,000; lease payments US$50,000; wages and salaries US$360,000; goods purchased US$705,000; repairs and maintenance US$47,000; discount allowed and received amount to US$50,000 and US$70,000 respected; corporate tax is 25 % on profit.

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