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question and answer template please help me solve Question 2 Air New Zealand Limited is the flag carrier airline of New Zealand. It is engaged
question and answer template please help me solve
Question 2 Air New Zealand Limited is the flag carrier airline of New Zealand. It is engaged in the transportation of passengers and cargo on an integrated network of scheduled airline services to, from, and within New Zealand. To complete the question, you need the information from the 2021 annual results for the consolidated Air New Zealand Group. The 2021 annual results for the Air New Zealand Group can be accessed from their website. Go to https://p-airnz.com/cms/assets/PDFs/airnz-financial-results-2021.pdf and download it. The consolidated financial statements and notes to the consolidated financial statements are on pages 2 - 43. You have been asked by one of your friends to explain some of the items included in the Statement of Financial Position of the Air New Zealand Group. For each of the items listed, and using the table provided below, you are required to: 1 describe what the item represents; 2 indicate according to the accounting policy how the item is measured (no answer is required for one of the items, which is indicated in the table); 3 provide the total value of the item from the 2021 financial statements; 4 give details (including the relevant note number) of where the information on the item is located (i.e., how it is classified) within the 2021 financial statements; and 5 provide reasons for the classification of the item as either a current or non-current asset/liability or equity item using only the information provided in the financial statements or lecture recordings. List of the items: I. Inventory (5 marks) ii. Property, Plant and Equipment (5 marks) Revenue received in advance (4 marks) Your answers should relate specifically to the Air New Zealand Group, and should not contain a general description of each item. (Total: 14 marks, maximum 5 lines for each item) Items on the 2021 Statement of Financial Position (which is in the Answer Booklet): 1. Description of the 2. Measurement 3. Value of the item item 4. Location in the financial statements and related note number 5. Reasons for the classification Inventory I. Property, Plant and Equipment Il Revenue received in advance No answer required Step by Step Solution
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