This coursework is worth 40% of your final mark and the assignment should be submitted through Turnitin by 1 pm on Thursday 10th December 2020
accounting
Description
HRM in International Context
MMN624099
Coursework
2020/21: First Diet
This
coursework is worth 40% of your final mark and the assignment should be
submitted through Turnitin by 1 pm
on Thursday 10th December 2020. The report should be no longer than 1,000
words in length (excluding calculations in tables, reference list and
appendices).
Background
MJ
PLC is a Soft Drink manufacturer in the UK. The company’s Statement of Financial
Position (Balance Sheet) and Income Statement (Profit and Loss) for 2020 and 2019
are shown below:
Statement of Financial Position as at
31st January
2020
2019
|
|
£000’s |
£000’s |
£000’s |
£000’s |
|
NON-CURRENT
ASSETS |
|
2,000 |
|
1,900 |
|
CURRENT
ASSETS |
|
|
|
|
|
Inventory |
600 |
|
500 |
|
|
Trade receivables |
600 |
|
450 |
|
|
Cash |
200 |
|
300 |
|
|
|
1,400 |
|
1,250 |
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
Trade payables |
(350) |
|
(190) |
|
|
Other creditors |
(50) |
|
(70) |
|
|
Accruals |
(200) |
|
(150) |
|
|
Corporation tax |
(100) |
|
(140) |
|
|
|
(700) |
|
(550) |
|
|
NET
CURRENT ASSETS |
|
700 |
|
700 |
|
NON-CURRENT
LIABILITIES Long-term Loans |
|
(900) |
|
(1100) |
|
|
|
1,800 |
|
1,500 |
|
|
|
|
|
|
|
Ordinary share capital of £1 each |
|
500 |
|
500 |
|
Retained profits |
|
1,300 |
|
1,000 |
|
|
|
1,800 |
|
1,500 |
Income Statement for the year ended 31st
January
2020 2019
|
|
£000’s |
£000’s |
£000’s |
£000’s |
|
Revenue (all credit sales) |
|
5,000 |
|
4,500 |
|
Less cost of sales ( all credit purchases) |
|
(3,500) |
|
(3,200) |
|
Gross profit |
|
1,500 |
|
1,300 |
|
Operating expenses* |
(860) |
|
(750) |
|
|
Depreciation |
(40) |
|
(50) |
|
|
Total
Expenses |
|
(900) |
|
(800) |
|
OPERATING
PROFIT |
|
600 |
|
500 |
|
Interest |
(100) |
|
(150) |
|
|
Corporation Tax |
(200) |
|
(100) |
|
|
PROFIT
AFTER TAX |
|
300 |
|
250 |
|
Dividend –proposed |
|
0 |
|
0 |
|
RETAINED
PROFIT FOR YEAR |
|
300 |
|
250 |
Number
of Employees
10 9
*Includes
wages
£300,000 £260,000
|
Soft Drink Industry : Average
Financials 2019 |
||||
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