The University of Melbourne Department of Accounting THE UNIVERSITY OF MELBOURNE Workshop 9 PSB 11.10 - Simic & Nikolic Led Question Simic & Nikolic Ltd Statement of Financial Position as at 30 June 2016 2016 2015 $'000 $'000 Assets Current Assets Cash 3,150 1.220 Accounts Receivable 1,240 1.100 Allowance for Doubtful Debts 60 50 Inventory 1,520 1,300 Prepaid insurance 60 40 Total current Assets 5,910 3.610 Non-Current Assets Land 1,630 1,900 Buildings 2,100 1,670 Accumulated Depreciation - buildings -540 -500 Plant & Equipment 1,454 1.258 Accumulated Depreciation - plant & equipment -440 -610 Office Equipment 430 380 Accumulated Depreciation - office equipment .270 .190 Patents 260 280 Total non-current Assets 4,624 4.188 Total Assets $10,534 $7.798 Liabilities & Equities Current Liabilities Accounts Payable 750 500 Accrued expenses 260 280 Interest Payable 100 80 Income Tax payable 1,100 1,120 Final Dividend Payable 500 500 2,810 2.480 Non-Current Liabilities Borrowings 3,000 2,200 Total Liabilities Equity Share Capital 1,400 1,000 Revaluation Surplus 260 300 General Reserve 300 200 Retained Earnings 2,764 1 618 Total Equity 4,724 3.118 Total Liabilities & Equity $10,534 $7.798