Refer to the extracts of the 2021 annual report of Woolworths Limited in this book’s appendix. All questions relate to the consolidated accounts.

1 At what point in time is the balance sheet drawn up?

2 What is the currency in which accounts in the balance sheet are measured?

3 Illustrate how the 2021 balance sheet of Woolworths Limited balances.

4 How were the assets financed?

5 How is the ‘net assets’ figure determined?

6 What are the balances of current assets, current liabilities, noncurrent assets and noncurrent liabilities at 27 June 2021?

7 What is the balance of working capital at 27 June 2021?

8 What dividends were paid during the year?

9 What is the amount of share capital issued?

10 What amount of revenue was earned in 2021?

11 What is cost of goods sold for Woolworths in 2021?

12 For Woolworths in 2021, are the net profits from ordinary activities after tax and the change in the cash balance the same amounts?

13 What is the amount of net profit for 2021?

14 How much inventory (in dollars) does the company have as at 27 June 2021?

15 By what amount did cash and cash equivalents change during the most recent year?