Question 2 [23 marks] 2.1 Engen Motors Ltd presents you with the following extract from their...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Question 2 [23 marks] 2.1 Engen Motors Ltd presents you with the following extract from their books for the year ended 30 June 2022. Sales Inventory (1 July 2021) Purchases Inventory (30 June 2022) Advertising Salaries and wages Insurance Depreciation Maintenance Fuel Printing Postage and courier expense 11 875 000 68 750 4 467 500 968 750 187 500 1 218 750 90 625 500 000 134 375 112 562 Rent paid Telephones Additional information: • Assume no secondary tax is payable • Taxation charged at 28% Water and electricity Interest expense Non-current assets Ordinary shares Retained earning Cash Accounts receivables Inventory 93 812 Accounts payable 5 625 Long-term liabilities 18 750 78 500 119 500 12 625 9 375 000 7616 875 937 593 94 175 988 290 962 693 694 088 822 071 Required: Prepare statement of financial performance for the year ended 30 June 2022. (23 marks) Question 2 [23 marks] 2.1 Engen Motors Ltd presents you with the following extract from their books for the year ended 30 June 2022. Sales Inventory (1 July 2021) Purchases Inventory (30 June 2022) Advertising Salaries and wages Insurance Depreciation Maintenance Fuel Printing Postage and courier expense 11 875 000 68 750 4 467 500 968 750 187 500 1 218 750 90 625 500 000 134 375 112 562 Rent paid Telephones Additional information: • Assume no secondary tax is payable • Taxation charged at 28% Water and electricity Interest expense Non-current assets Ordinary shares Retained earning Cash Accounts receivables Inventory 93 812 Accounts payable 5 625 Long-term liabilities 18 750 78 500 119 500 12 625 9 375 000 7616 875 937 593 94 175 988 290 962 693 694 088 822 071 Required: Prepare statement of financial performance for the year ended 30 June 2022. (23 marks)
Expert Answer:
Answer rating: 100% (QA)
Engen Motors Ltd Income Statement For the year ended June 30 2022 Sales Less Co... View the full answer
Related Book For
Financial Accounting an introduction to concepts, methods and uses
ISBN: 978-0324789003
13th Edition
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
Posted Date:
Students also viewed these banking questions
-
1Prepare and post journal entries to record the December transactions listed above 2Post the December journal entries to the General Ledger 3Transfer the December 31 unadjusted balances from the...
-
The statements of comprehensive income and changes in equity for XY and its subsidiary, AZ for the year ended 31 December 2012 are shown below: XY AZ Statement of comprehensive income for the year...
-
Required Prepare General Journal entries to record the following transactions of Leduc Company: 2014 Dec 11 Accepted a $15,000, 6%, 60-day note dated this day in granting Fred Calhoun a time...
-
Imagine that you are a human resource manager in a domestically based company that has decided to operate internationally. You have been charged with sorting out the HRM effects of the decision. What...
-
Suppose that A, B, and C are three independent events such that Pr(A) = 1/4, Pr(B) = 1/3, And Pr(C) = 1/2. (a) Determine the probability that none of these three events will occur. (b) Determine the...
-
Describe branding. What are the guidelines for developing an effective brand name? Why is brand loyalty such an important concept for sports marketers to understand?
-
It is desired to find the value f0.99 for an F10,5 distribution. Use Table A.5 and the F5,10 distribution to find this value. Table A.5 Critical Values for the F Distribution Area Denominator Degrees...
-
1. Discuss and contrast the features of the retirement plans offered by Analytical Solutions and Precision Manufacturing. 2. Which plan do you think is more desirable? Consider the features,...
-
In your words, explain why student loans have become a moral hazard problem for the USA. 2) Has the student loan also created a negative externality? If yes, explain. If no, provide your arguments....
-
Three-Month Project NOTE! Templates needed Ampersand, Inc., is a small business that operates in Somerset, VT The company is located at 732 Appalachian Way, Somerset, VT 05363. Its federal Employer...
-
a) Ram Corporation Ltd is a listed company. The firms' CFO has gathered data (06Marks) for 6 M performing the valuation using the Free Cash Flow Model. The firms' WACC is 12% and it has Rs.14,00,000...
-
A proposal is a plan or suggestion that you put forward to be considered by others. Think of your proposal as a "brainstorm", or a planning guide for your transfer assignment. You can always change...
-
1-Outline of policies and procedures managing the administration of medication SCHOOL SETTING 2- a description of your own responsibilities as a teaching assistant and accountabilities in relations...
-
This question is meant to get at the naure of the movie medium: what are its unique characteristics? Describe what is involved in "going to the movies." What is different about going to the movies...
-
For this thread, consider the importance of relationship maintenance in your life. Pick a close relationship (e.g., parent/child, friendship, romantic) and describe how relationship maintenance (or a...
-
"Persuasive speakers should be concerned with what strengthens and weakens an argument," ( Communication in the Real World , 2013). In your exploration, you watched three TED Talks about issues...
-
Multiply and simplify. 4r-202-16 r-4 r-5 r 5,4 Need Help? Read It
-
To balance the chemical equation SiH3 + O2 SiO2 + HO, you could introduce coefficients a, b, c, d and write aSiH3 + bO2 cSiO + dHO then write linear equations for each element. The equation for Si...
-
In what ways is the economic substance of a lessees capital lease similar to, and different from, that of purchasing the equipment using the proceeds of a loan repayable in installments?
-
Interpreting balance sheet changes Exhibit 3.7 presents the balance sheet for Cemex S.A., a Mexican construction firm, for two recent years. Cemex applies Mexican reporting standards and reports its...
-
Interpreting the statement of cash flows. Exhibit 15.18 presents a statement of cash flows for Gear Locker, manufacturer of athletic shoes and sportswear, for three recent years. a. What is the...
-
The beam is constructed from two boards fastened together at the top and bottom with three rows of nails spaced every \(8 \mathrm{in}\). If an internal shear force of \(V=800 \mathrm{lb}\) is applied...
-
The beam is constructed from two boards fastened together at the top and bottom with three rows of nails spaced every 8 in. If each nail can support a \(300-\) lb shear force, determine the maximum...
-
The double-web girder is constructed from two plywood sheets that are secured to wood members at its top and bottom. If each fastener can support \(600 \mathrm{lb}\) in single shear, determine the...
Study smarter with the SolutionInn App