Accounting

Accounting Question

Q uestion

ALS Ltd’s Profit and loss statement

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Question 4(a) – 6 marks

  • What is the time period covered by ALS Ltd’s Profit and loss statement?     (1 mark)
  • Which other of ALS Ltd’s financial statements cover this same period?     (1 mark)
  • Why doesn’t ALS Ltd’s balance sheet cover this time period?     (1 mark)
  • What was the total amount of profit (after tax) earned by ALS Ltd and its subsidiaries in 2013?       (1 mark)
  • How much of this profit are the shareholders of ALS Ltd entitled to?     (1 mark)
  • Why are the shareholders of ALS Ltd not entitled to all profits?     (1 mark)

Question 6(b) – 3 marks

  • Refer to Note 17 ‘Other Assets’: What do ‘Prepayments’ represent?     (1 mark)
  • Explain why these items are recognised as assets.     (1 mark)
  • What are the three types of intangible assets recognised by ALS Ltd in 2012-13?     (1 mark)

Question 7(a) – 3 marks

  • What was the value of cash receipts from customers in 2013?     (1 mark)
  • Why does this amount differ from the total amount of revenue from sale of goods plus revenue from rendering of services?     (1 mark)
  • Observe that ALS Ltd has reported negative net cash flows from investing activities in 2013. Explain whether, in your opinion, this negative net cash flow represents a potential problem for ALS Ltd.     (1 mark)  

Please quote the page number that you found the answer. Thank You J



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    Accounting

    Submitted by PROFSTAN on April 26th, 2016 14:51

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