9. Below is the balance sheet for JB HiFi for the year ending 30 June 2017:...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
9. Below is the balance sheet for JB HiFi for the year ending 30 June 2017: 7 Consolidated 2017 2016 Notes Sm Sm ASSETS Current assets Cash and cash equivalents 72.8 51.9 Trade and other receivables 196.6 98.0 Inventories 859.9 546.4 Other current assets 9. 41.4 6.1 Total current assets 1,170.7 702.4 Non-current assets Plant and equipment 10 208.2 183.6 Deferred tax assets 6 7.8 Intangible assets 11 1,026.6 98.5 Other non-current assets 46.8 Total non-current assets 1,281.6 289.9 Total assets 2,452.3 992.3 LIABILITIES Current liabilities Trade and other payables 12 647.8 339.9 Deferred revenue 13 141.8 45.1 Provisions 14 75.4 46.0 Other current liabilities 15 9.0 4.9 Current tax liablities 11.8 10.9 Totel current liabilities 885.8 446.8 Non-current liabilities Borrowings 17 558.8 109.7 Deferred revenue 13 99.6 Deferred tax liabities 6 8.2 Provisions 14 11.8 6.4 Other non-current liabilities 15 34.6 24.7 Total non-current kabilties 713.0 140.8 Total liabilities 1,598.8 587.6 Net assets 853.5 404.7 EQUITY Contributed equity 18 438.7 49.3 Reserves 19 33.2 27.1 Retained earnings 381.6 328.3 Total equity 853.5 404.7 Source: jbhifi.com.au In September 2016, JB Hi Fi purchased The Good Guys, a competing business, for $870m. Analyse the balance sheets above and explain any changes from 2016 to 2017 that you think may be attributable to this acquisition. 9. Below is the balance sheet for JB HiFi for the year ending 30 June 2017: 7 Consolidated 2017 2016 Notes Sm Sm ASSETS Current assets Cash and cash equivalents 72.8 51.9 Trade and other receivables 196.6 98.0 Inventories 859.9 546.4 Other current assets 9. 41.4 6.1 Total current assets 1,170.7 702.4 Non-current assets Plant and equipment 10 208.2 183.6 Deferred tax assets 6 7.8 Intangible assets 11 1,026.6 98.5 Other non-current assets 46.8 Total non-current assets 1,281.6 289.9 Total assets 2,452.3 992.3 LIABILITIES Current liabilities Trade and other payables 12 647.8 339.9 Deferred revenue 13 141.8 45.1 Provisions 14 75.4 46.0 Other current liabilities 15 9.0 4.9 Current tax liablities 11.8 10.9 Totel current liabilities 885.8 446.8 Non-current liabilities Borrowings 17 558.8 109.7 Deferred revenue 13 99.6 Deferred tax liabities 6 8.2 Provisions 14 11.8 6.4 Other non-current liabilities 15 34.6 24.7 Total non-current kabilties 713.0 140.8 Total liabilities 1,598.8 587.6 Net assets 853.5 404.7 EQUITY Contributed equity 18 438.7 49.3 Reserves 19 33.2 27.1 Retained earnings 381.6 328.3 Total equity 853.5 404.7 Source: jbhifi.com.au In September 2016, JB Hi Fi purchased The Good Guys, a competing business, for $870m. Analyse the balance sheets above and explain any changes from 2016 to 2017 that you think may be attributable to this acquisition.
Expert Answer:
Answer rating: 100% (QA)
The Balance Sheet of JB HiFi as of June 2017 looks promising as the values as compared to 2016 are a... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Presented below is the balance sheet for Tomkins plc, a British company. Instructions(a) Identify at least three differences in balance sheet reporting between British and U.S. firms, as shown in...
-
For the financial year ending 30 June 2020, Malkin Ltd has some liability issues for which it seeks your help: a) The company sells widgets and provides a one-year warranty. 100,000 widgets were sold...
-
The Stockholders Equity section of the balance sheet for Lahey Construction Company at the end of 2010 is as follows: 9%, $10 par, cumulative preferred stock, 500,000 shares authorized, 200,000...
-
Seanna OBrien receives pension payments of $3200 at the end of every six months from a retirement fund of $50 000. The fund earns 7% compounded semi-annually. (a) How many payments will Seanna...
-
Four upper level undergraduate students are available to serve on a committee. Two students will be selected at random to serve on the committee. Let A - The students selected are of the same gender....
-
What are the major differences between short-term and long-term forecasts for a fixed exchange rate versus a floating exchange rate? Discuss.
-
Let \(q(t)\) be the survival probability and let \(q^{-1}\) be its inverse function. Also, let \(U\) be a uniform random variable on \([0,1]\). For each realization \(u\), let \(\tau\) be chosen such...
-
Dungan Corporation is evaluating a proposal to purchase a new drill press to replace a less efficient machine presently in use. The cost of the new equipment at time 0, including delivery and...
-
Assume the random variable X is normally distributed, with mean = 54 and standard deviation = 8. Find the 7th percentile. The 7th percentile is (Round to two decimal places as needed.)
-
2. Consulting: A University employs a Professor whose base output is a constant K. The Professor chooses to spend effort e consulting, giving her income pe at personal cost C(e) e/2. Unfortunately,...
-
Gwalior Sports Goods manufactures two different types of tennis tables (A & B). Cost and other details of these two products are given below: (i) Cost details of Product A and B Information Product A...
-
A 316.9g sample of material changes temperature from 61.6 C to 91.4 C when 2057 joules of heat are added. Find the specific heat for the material.
-
A spring stretches 0.25 m from rest when a mass of 1 kg is placed on the spring. What is the spring constant k for the spring (in units of N/m)
-
In 2012, a 20-year-old astronaut leaves her twin on earth and goes on a rocket to explore the galaxy. The rocket moves at 2.7 108 m/s during the voyage. It returns to earth in the year 2042. a. Using...
-
An aircraft has an initial velocity of 19 knots and an acceleration of 10.84 feet/sec^2. What is the final velocity, in knots, after 15.9 seconds?
-
An aircraft is at a standstill. It accelerates to 156.3 kt in 22.8 seconds. Calculate the acceleration in feet/sec^2.
-
Situation: The St. Paul police department in Minneapolis, U.S.A, came to the limelight since the killing of George Floyd back in May of 2020 that sparked the #BLM (Black Lives Matter) movement in the...
-
What mass of KBr (in grams) should you use to make 350.0 mL of a 1.30 M KBr solution?
-
Klamath Company, a manufacturer of ballet shoes, is experiencing a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its product, the company...
-
Johnson & Johnson, the worlds leading and most diversified healthcare corporation, serves its customers through specialized worldwide franchises. Each of its franchises consists of a number of...
-
What might explain the fact that different accounting standard-setters have developed accounting standards that are sometimes quite different in nature?
-
Use a HashMap to create a reusable class for choosing one of the 13 predefined colors in class Color. The names of the colors should be used as keys, and the predefined Color objects should be used...
-
Use SecureRandom method ints to generate a stream of 50 random numbers in the range 1 to 999, then filter the resulting stream elements to select only the odd numbers and display the results in...
-
(a) How many of male respondents in this study had some college degree? (b) How would you describe the largest group of respondents? (c) What could be stated about the differences between male and...
Study smarter with the SolutionInn App