Question 2 [23 marks] 2.1 Engen Motors Ltd presents you with the following extract from their...

 

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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)

Answer rating: 100% (QA)

Engen Motors Ltd Income Statement For the year ended June 30 2022 Sales Less Co... View the full answer