Assets Statement of Financial Position for the year ended 30 June 2024 Inventory Property, Plant & Equipment (Net). Accounts Receivable Cash and cash equivalents Intangible assets Other receivables 2024 (5000) 2023 (5000) 72,300 70,930 58,540 45,900 35,680 32,845 12,650 16,250 2,765 2,765 4,200 2,200 186,135 170,890 Total assets Liabilities Trade and other payables 72,305 57,900 Long term loan (Payable in 2028) 15,400 18,790 Taxation Payable 3,100 Provisions 10,800 6,700 Total liabilities 98,505 86,490 Net assets 87,630 84,400 Shareholders' equity Share Capital Reserves Retained eamings Total shareholders' equity 75,000 70,600 4,400 1,900 8,230 11,900 87,630 84,400 Retail Sales Cost of Goods Sold Gross profit Other Income Interest Income Income statement. for the year ended 30 June 2024 2024 (5000) 2023 (5000) 302,400 258,450 149,675 129,900 152,725 128,550 11,455 9,350 Gain on revaluation of Land (net of tax) 2,500 Revenue from Discontinued operations 40,000 Less: Expenses Administration Expenses 86,000 73,300 Selling and Distribution Expenses 27,500 13,346 Other General expenses 33,650 27,910 Interest expenses 9,200 7,800 Expenses for Discontinued operations 32,500 Loss on revaluation of Land (net of tax) 1,900 Total operating expenses 188,850 124,256 Profit before tax 17,830 13,644 You have been provided with the following additional information: 1) Gain and loss on revaluation of land, that are shown in the Income statement, have been transferred to Land Revaluation Reserve account. 2) Income tax expenses were included under other general expenses for the two years. The tax expenses for 2024 and 2023 were $13,650,000 and $11,435,000, respectively. 3) Income tax payable as of 30 June 2024 was included under Provisions and the amount was $3,250,000.
Assets Statement of Financial Position for the year ended 30 June 2024 Inventory Property, Plant & Equipment (Net). Accounts Receivable Cash and cash equivalents Intangible assets Other receivables 2024 (5000) 2023 (5000) 72,300 70,930 58,540 45,900 35,680 32,845 12,650 16,250 2,765 2,765 4,200 2,200 186,135 170,890 Total assets Liabilities Trade and other payables 72,305 57,900 Long term loan (Payable in 2028) 15,400 18,790 Taxation Payable 3,100 Provisions 10,800 6,700 Total liabilities 98,505 86,490 Net assets 87,630 84,400 Shareholders' equity Share Capital Reserves Retained eamings Total shareholders' equity 75,000 70,600 4,400 1,900 8,230 11,900 87,630 84,400 Retail Sales Cost of Goods Sold Gross profit Other Income Interest Income Income statement. for the year ended 30 June 2024 2024 (5000) 2023 (5000) 302,400 258,450 149,675 129,900 152,725 128,550 11,455 9,350 Gain on revaluation of Land (net of tax) 2,500 Revenue from Discontinued operations 40,000 Less: Expenses Administration Expenses 86,000 73,300 Selling and Distribution Expenses 27,500 13,346 Other General expenses 33,650 27,910 Interest expenses 9,200 7,800 Expenses for Discontinued operations 32,500 Loss on revaluation of Land (net of tax) 1,900 Total operating expenses 188,850 124,256 Profit before tax 17,830 13,644 You have been provided with the following additional information: 1) Gain and loss on revaluation of land, that are shown in the Income statement, have been transferred to Land Revaluation Reserve account. 2) Income tax expenses were included under other general expenses for the two years. The tax expenses for 2024 and 2023 were $13,650,000 and $11,435,000, respectively. 3) Income tax payable as of 30 June 2024 was included under Provisions and the amount was $3,250,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
not use ai please
Transcribed Image Text:Assets
Statement of Financial Position
for the year ended 30 June 2024
Inventory
Property, Plant & Equipment (Net).
Accounts Receivable
Cash and cash equivalents
Intangible assets
Other receivables
2024 (5000)
2023 (5000)
72,300
70,930
58,540
45,900
35,680
32,845
12,650
16,250
2,765
2,765
4,200
2,200
186,135
170,890
Total assets
Liabilities
Trade and other payables
72,305
57,900
Long term loan (Payable in 2028)
15,400
18,790
Taxation Payable
3,100
Provisions
10,800
6,700
Total liabilities
98,505
86,490
Net assets
87,630
84,400
Shareholders' equity
Share Capital
Reserves
Retained eamings
Total shareholders' equity
75,000
70,600
4,400
1,900
8,230
11,900
87,630
84,400
Retail Sales
Cost of Goods Sold
Gross profit
Other Income
Interest Income
Income statement.
for the year ended 30 June 2024
2024 (5000)
2023 (5000)
302,400
258,450
149,675
129,900
152,725
128,550
11,455
9,350
Gain on revaluation of Land (net of tax)
2,500
Revenue from Discontinued operations
40,000
Less: Expenses
Administration Expenses
86,000
73,300
Selling and Distribution Expenses
27,500
13,346
Other General expenses
33,650
27,910
Interest expenses
9,200
7,800
Expenses for Discontinued operations
32,500
Loss on revaluation of Land (net of tax)
1,900
Total operating expenses
188,850
124,256
Profit before tax
17,830
13,644
You have been provided with the following additional information:
1) Gain and loss on revaluation of land, that are shown in the Income statement, have been
transferred to Land Revaluation Reserve account.
2) Income tax expenses were included under other general expenses for the two years. The
tax expenses for 2024 and 2023 were $13,650,000 and $11,435,000, respectively.
3) Income tax payable as of 30 June 2024 was included under Provisions and the amount was
$3,250,000.
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