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Hakeem plc is an international pharmaceutical company that operates three divisions. An extract from the 2019 management accounts is summarized below: Scotland Division England Division Northern Ireland Division £ £ £ Revenues 77,000 85,000 55,000 Variable costs (55,000) (62,000) (47,000) Contribution margin 22,000 23,000 8,000 Fixed costs (12,000) (12,000) (12,000) Operating income 10,000 11,000 (4,000) Requirement:   Senior management are considering a proposal to close the Northern Ireland division because it has been reporting losses for the last 3 years. Advise the management on whether such a decision is profitable for Hakeem plc. Clearly show any workings to support your advice.                                                                                                                                                                                                                        (2 Marks)

Question 1   Hakeem plc is an international pharmaceutical company that operates three divisions. An extract from the 2019 management accounts is summarized below:…

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Daisy, aged 32, was recently relocated by her employer to manage one of the company’s new ventures in Manchester, England with an increased salary of £64,385 per annum. In order to make the move as easy as possible for this valued employee, the company bought a flat where Daisy has been living, rent-free, since 1 April 2019.  The flat cost the company £352,000 and it has an annual rateable value of £12,495.  On 30th April 2019, the company paid Daisy £15,149 to meet her removal expenses. 

Daisy, aged 32, was recently relocated by her employer to manage one of the company’s new ventures in Manchester, England with an increased salary…

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You are currently working on the Accounts Receivable section of the financial accounts of ‘Jim’s Big Building Supplier’. Your client supplies building materials to both individuals for home improvements and large building companies for building projects across Scotland. At the year end the accounts receivable balance stands at £1.61 million based on turnover of £5.84 million. Last year’s sales (pre-COVID19) were in excess of £10 million.

You are currently working on the Accounts Receivable section of the financial accounts of ‘Jim’s Big Building Supplier’. Your client supplies building materials to…

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