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MIMS Co.

MIMS Co. reported a revenue of 24,300, with a gross profit of 13,400, but incurred an operating loss of 3,600, leading to a profit after tax of -1,940. The statement of changes in equity shows an adjusted total equity of 75,000 after accounting for share issues and dividends paid. Cash flows from investing activities were negative at -22,000, while financing activities generated a net cash inflow of 12,000.

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81 views3 pages

MIMS Co.

MIMS Co. reported a revenue of 24,300, with a gross profit of 13,400, but incurred an operating loss of 3,600, leading to a profit after tax of -1,940. The statement of changes in equity shows an adjusted total equity of 75,000 after accounting for share issues and dividends paid. Cash flows from investing activities were negative at -22,000, while financing activities generated a net cash inflow of 12,000.

Uploaded by

ccaabdhesh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

MIMS CO.

All figures are in "000"

Statement of profit or loss for the year ended 31-Dec-20X5


W1:
Revenue 24300 Cost
Cost of sales 10900 Life
Depreciation
Gross profit 13400
Administrative expen 9700 Revaluation
Distribution costs 7300 Revaluation gain

Operating profit -3600


Investment income 2500 W2: Administrative expenses
Finance costs 1400 As per trial balance
Depreciation
Profit before tax -2500 Promotion costs
Tax -560 Amortisation
Dividends paid
Profit after tax -1940 Provision

Adjusted Admin exp

W3:
Shares in issue
Right issue
Total shares

W4: Tax

Under-provision
Estimated this year
increase in deferred t

Tax expense

Statement of change in equity

SC SP RE
Opening balance 60000 0 43200
Prior year adjustent: -700

Issue of share 15000 37500


Dividends paid -3000
This year profit -1940
Adjusted this year 75000 37500 37560

1). Cashflow from investing activities

Purchase of brand -2000


Purchase of investme -20000

CF from investing acti -22000

2). Cashflow from financing activities

Dividends paid -3000


Issue of share capital 15000

Net cash from financin 12000


20000 Cost of br 2000
20 yrs life 5 yrs
1000 Amortisati 100

22000
2000

ministrative expenses W3: Provision


10900
1000 Total provi 6000
1300 recorded 4600
100 to be inclu 1400
3000
1400

9700 Dr. Retain 700


Cr. Cost of 700

60000
15000
75000

140
-1200
500

-560

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