SOFP

Question 1

Non current assets

Answer 1

Property/Equipmemt
Investments
Goodwill
Preliminary expenses

Question 2

Current assets

Answer 2

Closing inventory
Trade receivables
Other receivables
Investment dividend due

Question 3

Current liabilities

Answer 3

Corporation tax
Debenture interest owing

Question 4

Non current liabilities

Answer 4

Bank loan
Debenture

Question 5

Equity

Answer 5

Ordinary shares
Preference shares

Question 6

Reserves

Answer 6

Unappropriated profit
Revaluation reserve
Share premium

Question 7

Working equity

Answer 7

(After 3)
2-3

Question 8

Net assets employed

Answer 8

(After working equity)
Working equity + 1

Question 9

Net assets

Answer 9

(After 4)
Net assets employed - 4

Question 10

Income statement appropriation section plc

Answer 10

Profit for the year before tax
Corporation tax

Profit for the year after tax
Add unappropriated profit at start

Less appropriations
Ordinary share dividend
Preference share dividend
Goodwill written down

Unappropriated profit at end

Question 11

SOFP Layout

Answer 11

1. Non current assets
2. Current assets
3. Current liabilities
   Working equity (2-3)
   Net assets employed (WE+1)
   4.Non current liabilities
   Net assets (NAE-4)
4. Equity
5. Reserves