Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi there, i really need help on my final year assignment to score! thanks! Question 1 1a) Using Exhibit 1 and 2, prepare the common-size

Hi there, i really need help on my final year assignment to score! thanks!

Question 1 1a) Using Exhibit 1 and 2, prepare the common-size income statement and the common-size balance sheet for the years ending 31 March 2013 to 31 March 2015. (5 marks)

1b) Using information provided in Exhibits 1 and 2, prepare the statement of cash flows for the years ending 31 March 2014 and 2015 using the indirect method. (10 marks)

image text in transcribed

image text in transcribed

EXHIBIT 1: INCOME STATEMENT, APRIL 1 To MARCH 31 (IN THOUSANDS) 2012-13 2013-14 2014-15 Sales 200 480 800 Cash Credit 1,800 7.200 8.000 Total sales 2.000 4,800 1,240 2,832 4800 Cost of goods sold Gross profit 760 1968 3200 Operating expenses 1,000 General, administration, and selling expenses 80 450 100 400 Depreciation 660 158 340 nterest expenses (on borrowings 60 Profit before tax PBT 520 960 1,200 Tax 30% 1561 288 360 Profit after tax (PA 364 672 840 Source: Company's audited financial statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISO IEC 27001 Lead Auditor Mastering ISMS Audit Techniques

Authors: Dr Tamuka Maziriri

1st Edition

107903160X, 978-1079031607

More Books

Students also viewed these Accounting questions

Question

D. How effectively are research results presented?

Answered: 1 week ago