The following information relates to Nevertire Ltd. Profit before income tax for the year ended 30 June

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The following information relates to Nevertire Ltd. Profit before income tax for the year ended 30 June 2019 was $220 000. The following items were used in determining that profit.

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Assume the company’s taxation rate is 30c in the dollar.

Required

Prepare the income statement for the year ended 30 June 2019.

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Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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Question Posted: Mar 09, 2024 06:01 AM

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The following information relates to Nevertire Ltd. Profit before income tax for the year ended 30 June

Question:

Sales Selling, administrative and finance expenses Cost of sales Loss from flood Interest revenue Bad debts Development costs written off $580 000 234 000 72 000 14 000 18000 36 000 22 000

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Financial Accounting

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