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Hi, please could you explain how the “Short term loans and overdrafts” amounts (i.e. Yr 2005 – 266, Yr 2006 – 288, Yr 2007 – 292 etc) were calculated? Thanks.
They are the balancing figures on the Statements of financial position.
There is enough information in the question to be able to calculate all of the other assets and liabilities and the retained earnings.
Since the statements should balance, the short term loans figure each year is the ‘missing figure’ to make the statements balance.Hi John,
In wurrall plc a, how do we calculate the interest payable? 63,65,66,&70?It is 8% on the long-term borrowing of 580, plus 7% on the short-term borrowings at the start of each year (end of previous year) as per note (vii) of the question.
Hi John,
I got how interest in PL is calculated for year 1. But how is 65, 66 and 70 calculated?
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