Question
Are there any calculations involved in the Profit or Loss statement ending on 30 June 2023? It says: 1. Warranty expense of $1,290,000. The balance
Are there any calculations involved in the Profit or Loss statement ending on 30 June 2023? It says:
1. Warranty expense of $1,290,000. The balance of the provision for warranty at 30 June 2022 was $690,000. Of the balance of this provision at 30 June 2023, 65% is expected to be used by 30 June 2024.
2. $9,430,000 for employee expenses. This includes annual leave expense of $783,000. The balance of the provision for annual leave at 30 June 2022 was $1,230,000.
3. The carrying amount of the shop furniture and fittings sold in March 2023 of $740,000. This is comprised of cost of $2,250,000 less accumulated depreciation to date of sale of $1,510,000.
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