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Assignment of FIN 501 (2)

Assignment of FIN 501 (2)

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Published by Mahfuza Akter Mili
Comparative analysis of financial statement between two Textile Company’s
Comparative analysis of financial statement between two Textile Company’s

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Published by: Mahfuza Akter Mili on Feb 08, 2013
Copyright:Attribution Non-commercial

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10/01/2014

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20092008TakaTakaCURRENT ASSETS 1,172,765.00574,460.00 Cash and bank balances 603,110.00197,088.00 
Deposit accounts 560,177.00137,433.00 Current accounts 25,840.0021,326.00 Collection accounts 16,831.0038,275.00 Cash in hand 262.0054.00 
Advances, Deposits, prepayments and other receivable 46,041.0073,583.00 
To suppliers 18,148.0034,044.00 To employees 783.00449.00 Due from associated undertaking 1,125.001,127.00 Deposits 1,486.001,313.00 Prepayments 4,314.0010,606.00 Excise duty 4,057.009,911.00 
 Advance tax –net
7,891.00- Sales tax refundable -net -3,774.00 Derivative foreign currency options used as hedging instru -- Interest accrued 1,002.002,175.00 Prepaid arrangement fee for loans-- Margin on letters of credit -- Other receivables- Considered goods 8,235.00645.00 Others-9,539.00 
TRADE DEBTS107,231.0044,789.00 Unsecured 25,021.0023,833.00 
Considered goods 23,454.0022,266.00 Considered doubtful 1,567.001,567.00 Secure-considered goods83,777.0022,523.00 Less: Provision for doubtful debts (1,567.00)(1,567.00) 
STOCK IN TRADE 55,931.0061,600.00 
Raw and packing material 18,469.0015,224.00 Work in process 11,624.0027,761.00 Finished goods 25,838.0018,615.00 
STORES, SPARES AND LOOSE TOOLS 360,452.00197,400.00 
Stores 107,633.0071,837.00 Spares 244,514.00118,324.00 Loose tools 8,305.007,239.00 
DEFERRED TAX ASSETS - NET337,140.00570,039.00 LONG TERM DEPOSITS 46,611.0036,600.00 LONG TERM ADVANCES - Considered9,000.00- FIXED ASSETS - Tangible:4,658,272.004,729,254.00 
Property, Plant and equipment4,658,272.004,729,254.00 
Total Assets6,223,788.005,910,353.00 
ASHRAF TEXTILE MILLS LIMITED 
BALANCE SHEET AS AT JUNE 30, 2009
 
CURRENT LIABILITIES 1,207,946.00372,116.00 Current portion of long term financing: 552,995.0086,508.00 Short term borrowings - secured:308,876.00- Markup accrued: 69,357.0013,132.00 Trade and other payables: 275,718.00272,476.00 
Creditors 45,969.0045,651.00  Accrued liabilities 67,119.0063,425.00 Retention money 10,533.0010,819.00 Security deposits 28,982.0025,462.00  Advances from customers 42,444.0023,121.00 Workers' (Profit) Participation Fund 39,949.00- Workers' Welfare fund-- Sales tax payable- net 31,300.0022,304.00 Excise duty payable 3,537.0058.00 Other liabilities5,885.0081,636.00 Compensated absences -- Unclaimed dividend -- 
NON - CURRENT LIABILITIES2,567,218.003,599,103.00 Retention money payables:-- Deferred tax liability - net:-- Deferred liability45,213.0040,264.00 Long term financing:2,522,005.003,558,839.00 Loans from banking companies - Secured:
H.S.B.C Bank Limited 916,667.00- PRIM Bank Limited916,667.00- United Bank Limited 458,333.00- Bank Al Falah Limited 458,333.00- CITY Bank Limited -- NCC Commercial Bank Limited 275,000.00- 
Loan from related party:50,000.00- Total Liabilities3,774,164.003,971,219.00 
Less: amount payable within 12 months shown under curre (552,995.00)- 
SHARE CAPITAL AND RESERVES2,449,624.001,939,134.00 Reserves:-- Accumulated loss(1,744,798.00)(2,255,288.00) Share capital:4,194,422.004,194,422.00 Total Liabilities + Owner's Equity6,223,488.005,910,353.00 
 
20072006
TakaTakaCURRENT ASSETS 5,294,083.001,953,537.00 Cash and bank balances 3,783,909.00423,133.00 
Deposit accounts 3,756,611.00402,907.00 Current accounts 27,039.0020,048.00 Collection accounts -- Cash in hand 259.00178.00 
Advances, Deposits, prepayments and other receivables: 345,567.00858,758.00 
To suppliers 15,521.00815,588.00 To employees 2,473.00621.00 Due from associated undertaking -- Deposits 5,737.001,795.00 Prepayments 3,966.003,125.00 Excise duty -- 
 Advance tax –net
23,302.0013,104.00 Sales tax refundable -net 82,719.00- Derivative foreign currency options used as hedging instrument 84,364.00- Interest accrued 14,828.005,077.00 Prepaid arrangement fee for loans74,670.0011,000.00 Margin on letters of credit 29,369.00- Other receivables- Considered goods 7,179.002,084.00 Others1,439.006,364.00 
TRADE DEBTS26,927.0019,558.00 Unsecured 4,848.0016,117.00 
Considered goods -7,769.00 Considered doubtful 4,848.008,348.00 Secure-considered goods26,927.0011,789.00 Less: Provision for doubtful debts (4,848.00)(8,348.00) 
STOCK IN TRADE 230,089.00183,309.00 
Raw and packing material 31,271.0023,931.00 Work in process 152,529.00115,221.00 Finished goods 46,289.0044,157.00 
STORES, SPARES AND LOOSE TOOLS 907,591.00468,769.00 
Stores 415,358.0061,997.00 Spares 478,579.00394,046.00 Loose tools 13,654.0012,726.00 
DEFERRED TAX ASSETS - NET-- LONG TERM DEPOSITS 46,611.0046,611.00 LONG TERM ADVANCES - Considered7,200.008,100.00 FIXED ASSETS - Tangible:7,106,599.004,392,450.00 
SAIHAM TEXTILE MILLS LIMITED
BALANCE SHEET AS AT JUNE 30, 2009
DHAKA

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