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REQUIRED Study the information provided below andanswer the following questions. 1.1 Were there...

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Question

Accounting

REQUIRED
Study the information provided below andanswer the following questions.
1.1

Were there any additions to or disposalsof property,plant and equipmentduring the

financial year ended 31 December 2022? Motivate your answer.

(3 marks)
1.2 Comment on the decrease in retained earnings. (3 marks)
1.3

Comment on FIVE (5) other significant changes that occurred in the companys financial

position during 2022.

(10 marks)
1.4

Apart from the Statement of Financial Position and ratio analysis, what other financial information should be considered when commenting on the financial health of the

company?

(4 marks)

INFORMATION

AMC Limited
Statement of Financial Position as at 31 December:
2022 2021
R R
ASSETS
Non-current assets ? ?
Property, plant and equipment(Cost) ? ?
Accumulated depreciation (2 000 000) (1 400 000)
Carryingvalue ? ?
Investments 10 000 000 12 000 000
Current assets 7 000 000 4 890 000
Inventories 400 000 100 000
Accounts receivable 5 800 000 4 000 000
Cash 800 000 790 000
25 200 000 25 690 000
EQUITYAND LIABILITIES
Equity 12 000 000 20 290 000
Ordinary share capital 3 000 000 2 400 000
Retained earnings 9 000 000 17 890 000
Non-current liabilities 10 000 000 3 400 000
Long-term loan 10 000 000 3 400 000
Current liabilities 3 200 000 2 000 000
Accounts payable 3 200 000 2 000 000
25 200 000 25 690 000
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