The following information is available for company ABC as of 31 December N:
Land 500
Additional paid-in capital (share premium) 150
Advance payments to suppliers (from which for inventories 200) 300
Licenses 50
Customers 600
Prepayments 80
Legal reserve 70
Dividends payable 100
Depreciation of plant and machinery 50
Investments in associates 700
Issued capital paid in (Share capital paid in) ??
Sundry debtors 100
Raw materials 60
Plant and machinery 700
Long term bank loans (of which become due in less than one year 150) 525
Write-downs of raw materials 5
Cash at bank 30
Provisions for guarantees to customers 500
VAT payable 50
Long term receivables 100
Buildings 300
Development costs (assets recognition criteria are fulfilled) 100
Other reserves 700
Salaries payable 200
Depreciation of buildings 50
Short term bank loans 150
Finished goods 180
Profit for the period 250
Advances received from customer 100
Short term financial investments 150
Suppliers payable 100
Bills of exchange payable 30
Other taxes payable 50
Deferred income (venituri amanate) 100
Required:
a. Draw up the balance sheet
b. Calculate issued capital (paid-in capital).
2. Using the following elements prepare an income statement by function and by nature (you must obtain the same result with both methods.
- Personal expenses 650
a.1. for production 400
a.2. for distribution 150
a.3. for administration 100
- Interest expenses 40
- row material expenses 150
- income tax expenses 150
- merchandise expenses 10
- consumable expenses 300
f.1. for production 200
f.2. for distribution 70
f.3. for administration 30
- Finish goods revenues 1.400
- Other op expenses.210
- Financial expenses 46
- Other taxes expenses 20
- Finish goods -31.12.N 200
- Costs CSS 210:
l.1. for production 130
l.2. for distribution 50
l.3. for administration 30
- INTEREST REVENUE 60
- Services expense 10
- other financial revenue 10
- seles revenue 50
- depreciation expenses 250
q.1. for production 180
q.2. for distribution 20
q.3.for administration 50
- revenue from dividends 120
