Homework Help is Here – Start Your Trial Now!
Business
Accounting
Shareholders of Hartley Corp are concerned that the company has recorded a reduced level of profits in 2020 compared to 2019. The Profit for the year has reduced from K272.4m to K5.9m. You have been requested by the concerned shareholder to prepare a detailed report analysing the financial performance Capital and reserves attributable to the Company's equity holders Share capital Share premium Retained earnings Non-current liabilities Deferred income tax STATEMENT OF FINANCIAL POSITION Total equity and non-current liabilities Non-current assets Prperty, plant and equipment Intangible assets Account receivable Current assets Inventories Trade and other receivables Current income tax Cash and cash equivalents Current liabilities Borrowings Trade and other paybles Total assets less current liabilities As at 31 December 2020 5,460 450,207 535,385 991,052 610,979 610,979 1,602,031 2,149,855 22,816 2,095 2,174,766 426,640 150,474 79,152 401,007 1,057,273 35,000 1,595,008 1,630,008 1,602,031 2019 5,460 450,207 584,047 1,039,714 635,648 635,648 1,675,362 2,059,246 24,601 2,083,847 486,667 255,294 10,542 225,942 978,445 32,761 1,354,169 1,386,930 1,675,362

Shareholders of Hartley Corp are concerned that the company has recorded a reduced level of profits in 2020 compared to 2019. The Profit for the year has reduced from K272.4m to K5.9m. You have been requested by the concerned shareholder to prepare a detailed report analysing the financial performance Capital and reserves attributable to the Company's equity holders Share capital Share premium Retained earnings Non-current liabilities Deferred income tax STATEMENT OF FINANCIAL POSITION Total equity and non-current liabilities Non-current assets Prperty, plant and equipment Intangible assets Account receivable Current assets Inventories Trade and other receivables Current income tax Cash and cash equivalents Current liabilities Borrowings Trade and other paybles Total assets less current liabilities As at 31 December 2020 5,460 450,207 535,385 991,052 610,979 610,979 1,602,031 2,149,855 22,816 2,095 2,174,766 426,640 150,474 79,152 401,007 1,057,273 35,000 1,595,008 1,630,008 1,602,031 2019 5,460 450,207 584,047 1,039,714 635,648 635,648 1,675,362 2,059,246 24,601 2,083,847 486,667 255,294 10,542 225,942 978,445 32,761 1,354,169 1,386,930 1,675,362

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%
Shareholders of Hartley Corp are concerned that the company has recorded a reduced level of profits in 2020 compared to 2019. The Profit for the year has reduced from K272.4m to K5.9m. You have been requested by the concerned shareholder to prepare a detailed report analysing the financial performance Prepare a I) horizontal Analysis II) Vertical Analysis of the Statement of Financial position .
Shareholders of Hartley Corp are concerned that the company has recorded a reduced level of profits in 2020 compared to 2019. The Profit for the year has reduced from K272.4m to K5.9m. You have been requested by the concerned shareholder to prepare a detailed report analysing the financial performance Capital and reserves attributable to the Company's equity holders Share capital Share premium Retained earnings Non-current liabilities Deferred income tax STATEMENT OF FINANCIAL POSITION Total equity and non-current liabilities Non-current assets Prperty, plant and equipment Intangible assets Account receivable Current assets Inventories Trade and other receivables Current income tax Cash and cash equivalents Current liabilities Borrowings Trade and other paybles Total assets less current liabilities As at 31 December 2020 5,460 450,207 535,385 991,052 610,979 610,979 1,602,031 2,149,855 22,816 2,095 2,174,766 426,640 150,474 79,152 401,007 1,057,273 35,000 1,595,008 1,630,008 1,602,031 2019 5,460 450,207 584,047 1,039,714 635,648 635,648 1,675,362 2,059,246 24,601 2,083,847 486,667 255,294 10,542 225,942 978,445 32,761 1,354,169 1,386,930 1,675,362
Transcribed Image Text:Shareholders of Hartley Corp are concerned that the company has recorded a reduced level of profits in 2020 compared to 2019. The Profit for the year has reduced from K272.4m to K5.9m. You have been requested by the concerned shareholder to prepare a detailed report analysing the financial performance Capital and reserves attributable to the Company's equity holders Share capital Share premium Retained earnings Non-current liabilities Deferred income tax STATEMENT OF FINANCIAL POSITION Total equity and non-current liabilities Non-current assets Prperty, plant and equipment Intangible assets Account receivable Current assets Inventories Trade and other receivables Current income tax Cash and cash equivalents Current liabilities Borrowings Trade and other paybles Total assets less current liabilities As at 31 December 2020 5,460 450,207 535,385 991,052 610,979 610,979 1,602,031 2,149,855 22,816 2,095 2,174,766 426,640 150,474 79,152 401,007 1,057,273 35,000 1,595,008 1,630,008 1,602,031 2019 5,460 450,207 584,047 1,039,714 635,648 635,648 1,675,362 2,059,246 24,601 2,083,847 486,667 255,294 10,542 225,942 978,445 32,761 1,354,169 1,386,930 1,675,362
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Prepare a Vertical and Horizontal Analysis of the Statement of Comprehensive Income.

Statement of profit or loss and other comprehensive income Revenue from contracts with customers Cost of sales Gross profit Distribution costs Administrative expenses Impairment credit/ (charge) on financial assets Other income Other expenses Operating profit Finance income Finance costs Finance (costs) / income.net Profit before income tax Income tax expense Profit for the year Other comprehensive income Total comprehensive income for the year Earnings per share for profit attributable to the equity holders of the Company Basic and diluted (Kwacha per share) Notes 6 78 11 11 12 14 For the year ended 31 December 2020 2,305,425 (1,346,701) 958,724 (178,028) (302,323) 3,002 697 (459,170) 22,902 1,557 (15,974) (14,417) 8,485 (2,546) 5,939 5,939 0.01 2019 2,092,589 (1,175,799) 916,790 (140,264) (403,055) (1,802) 26,876 (66,591) 331,954 55,036 (30,108) 24,928 356,882 (82,468) 274,414 274,414 0.50
Transcribed Image Text:Statement of profit or loss and other comprehensive income Revenue from contracts with customers Cost of sales Gross profit Distribution costs Administrative expenses Impairment credit/ (charge) on financial assets Other income Other expenses Operating profit Finance income Finance costs Finance (costs) / income.net Profit before income tax Income tax expense Profit for the year Other comprehensive income Total comprehensive income for the year Earnings per share for profit attributable to the equity holders of the Company Basic and diluted (Kwacha per share) Notes 6 78 11 11 12 14 For the year ended 31 December 2020 2,305,425 (1,346,701) 958,724 (178,028) (302,323) 3,002 697 (459,170) 22,902 1,557 (15,974) (14,417) 8,485 (2,546) 5,939 5,939 0.01 2019 2,092,589 (1,175,799) 916,790 (140,264) (403,055) (1,802) 26,876 (66,591) 331,954 55,036 (30,108) 24,928 356,882 (82,468) 274,414 274,414 0.50
Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS