Calculate Clean Surplus adjustments and Tax Shelter in the reformatted financial statement: Reformat-Statement of Comprehensive Income Operating
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Reformat-Statement of Comprehensive Income Operating Activities Revenues Revenue from Sale of Goods Other Income Total Revenues from Operating Activities Expenses Cost of Sales Marketing Expense Employment Expenses Administration Expenses Property Expenses Distribution Expenses Depreciation & Amortisation Total Expenses from Operating Actvities Net Operating Profit From Ordinary Activities Inter-Company investment Profits Significant Item Net Operating Profit Before Tax (NOPBT) Tax on Operating Profit Clean surplus adjustment Net Operating Profit After Tax (NOPAT) Interest Expense Interest Paid Interest on loans Interest Income-Deposits Net Expense Tax Shelter Net Financing Expense After Tax Net Income = Surplus Profit (NPAT) 2010 96,365 87 96,452 35,919 17,956 3,959 16,441 5,841 924 81,040 15,412 15,412 4,824 7,154 11,978 667 (667) 200.10 (466.90) 11,511 2011 100,015 276 100,291 37,322 8,377 15,868 3,797 17,292 424 1,064 84,144 16,147 16,147 5,201 6,912 12,113 (116) 778 (894) 268.20 2012 11,487 109,391 90 109,481 42,883 9,587 18,435 4,226 20,604 530 1,327 97,592 11,889 11,889 3,621 6,234 9,855 (221) 977 (1,198) 359.40 (625.80) (838.60) 9,016 2013 127,431 5,438 132,869 49,925 11,404 20,431 4,826 21,812 612 1,734 110,744 22,125 22,125 6,863 10,671 17,534 (252) 992 (1,244) 373.20 (870.80) 16,663 2014 141,442 160 141,602 56,019 12,543 22,297 5,576 23,046 639 1,947 122,067 19,535 19,535 6,122 8,389 14,511 (301) 1,124 (1,425) 427.50 (997.50) 13,513 Reformat-Statement of Comprehensive Income Operating Activities Revenues Revenue from Sale of Goods Other Income Total Revenues from Operating Activities Expenses Cost of Sales Marketing Expense Employment Expenses Administration Expenses Property Expenses Distribution Expenses Depreciation & Amortisation Total Expenses from Operating Actvities Net Operating Profit From Ordinary Activities Inter-Company investment Profits Significant Item Net Operating Profit Before Tax (NOPBT) Tax on Operating Profit Clean surplus adjustment Net Operating Profit After Tax (NOPAT) Interest Expense Interest Paid Interest on loans Interest Income-Deposits Net Expense Tax Shelter Net Financing Expense After Tax Net Income = Surplus Profit (NPAT) 2010 96,365 87 96,452 35,919 17,956 3,959 16,441 5,841 924 81,040 15,412 15,412 4,824 7,154 11,978 667 (667) 200.10 (466.90) 11,511 2011 100,015 276 100,291 37,322 8,377 15,868 3,797 17,292 424 1,064 84,144 16,147 16,147 5,201 6,912 12,113 (116) 778 (894) 268.20 2012 11,487 109,391 90 109,481 42,883 9,587 18,435 4,226 20,604 530 1,327 97,592 11,889 11,889 3,621 6,234 9,855 (221) 977 (1,198) 359.40 (625.80) (838.60) 9,016 2013 127,431 5,438 132,869 49,925 11,404 20,431 4,826 21,812 612 1,734 110,744 22,125 22,125 6,863 10,671 17,534 (252) 992 (1,244) 373.20 (870.80) 16,663 2014 141,442 160 141,602 56,019 12,543 22,297 5,576 23,046 639 1,947 122,067 19,535 19,535 6,122 8,389 14,511 (301) 1,124 (1,425) 427.50 (997.50) 13,513
Expert Answer:
Answer rating: 100% (QA)
Clean Surplus Adjustments and Tax Shelter in the Reformatted Financial Statement To calculate Clean Surplus adjustments and Tax Shelter in the reforma... View the full answer
Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
Posted Date:
Students also viewed these accounting questions
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Consider a binomial distribution with 10 trials. Look at Table 2 in the Appendix showing binomial probabilities for various values of p, the probability of success on a single trial. (a) For what...
-
Discuss the seven contemporary communication issues facing managers.
-
The following information was taken from the records of Eli Lilly, a major pharmaceutical (dollars in millions). Assume that ending inventory was overstated by $500 in 2006, understated by $150 in...
-
Air enters a convergent divergent nozzle of a rocket engine at a stagnation temperature of 3200 K. The nozzle exhausts into an ambient pressure of 100 kPa and the exit-to-throat area ratio is 10. The...
-
The following actual statement of financial position was prepared for Aero Supplies Ltd as at 31 March 2025. At 31 March you are also provided with the following information. 1. Sales forecasts...
-
Since the fall of 2008, millions of Americans have lost jobs due to the economic meltdown. A recent study shows that unemployment has not impacted white-collar and blue-collar workers equally...
-
act as a consultant hired by the operations director of the Barry Computer Company provide a financial analysis and comparison to the industry. You will conduct a financial ratio analysis to gain a...
-
A company manufacturers a product in the United States and sells it in England. The unit cost of manufacturing is $50. The current exchange rate (dollars per pound) is 1.51. The demand function,...
-
Discuss the need for a disaster recovery plan, focusing on the plan in place at your own company. Explain how employees in your company are informed and trained to implement the plan. If there is no...
-
Explain the risk/return trade-off.
-
a. What is interest rate risk? b. What is price risk? c. What is reinvestment rate risk?
-
Why is capital structure important to the managers of not-forprofit businesses?
-
Why are callable bonds riskier for investors than similar bonds without a call provision?
-
What unique problems do managers of not-for-profit businesses face regarding capital structure decisions?
-
At the end of September 2020, the Morrison Government announced an investment of almost $800 million to enable businesses to take advantage of digital technologies to grow their businesses and create...
-
Suppose that A is an m n matrix with linearly independent columns and the linear system LS(A, b) is consistent. Show that this system has a unique solution.
-
If two separate companies were each to lease identical capital assets under identical lease terms, the finance lease criteria used under International Financial Reporting Standards will ensure that...
-
Explain why it is common for companies to have positive cash flows from operating activities and negative cash flows from investing activities.
-
Rogers Sugar Inc. is headquartered in Vancouver, but has operations in Alberta, Ontario, Quebec, and New Brunswick. The company is the largest producer of refined sugar in Canada and also packages...
-
Apple stock is selling for \($120\) per share. Call options with a \($117\) exercise price are priced at \($12.\) What is the intrinsic value of the option, and what is the time value?
-
Ibrahim bought 200 shares of a stock trading in the Abu Dhabi Securities Exchange at AED 12 (United Arab Emirates dirham) per share. Over time, the price of the stock increased to AED 18 per share....
-
Twitter is trading at \($34.50.\) Call options with a strike price of \($35\) are priced at \($2.30\) . What is the intrinsic value of the option, and what is the time value?
Study smarter with the SolutionInn App