Question: help me please FA2-Assignment Q1. Explain why pretax financial income is different from taxable income. Give examples Q2. What effect do dilutive securities have on

help me please
help me please FA2-Assignment Q1. Explain why pretax financial income is different
from taxable income. Give examples Q2. What effect do dilutive securities have

FA2-Assignment Q1. Explain why pretax financial income is different from taxable income. Give examples Q2. What effect do dilutive securities have on the computation of EPS Q3. The following information is provided to you concerning Hongha Ltd: Hongha Ltd Comparative Balance Sheet for the year ending 30 June 2019 and 30 June 2020 Current Assets as at 30 June 2019 as at 30 June 2020 Cash at Bank Accounts Receivable Short Term Investments Inventory Total Current Assets 24200 %6000 10000 74620 204 00 30 800 116 000 12 000 70.800 229 600 Non Current Assets Plant and Equipment 42.000 50 400 Less Accumulated Depreciation 10000 32.000 12.000 37600 Office Equipment 16 000 Less Accumulated Depreciation 7600 Total Non Current Assets TOTAL ASSETS 18 400 $400 S 400 10.000 40400 47 600 245200 277 200 45000 3.000 47 200 4 000 51200 48.000 Current Liabilities Accounts Payable Tax payable Total Current Liabilities Non Current Liabilities TOTAL LIABILITIES SHAREHOLDERS' EQUITY Share Capital Retained Profits 48.000 51200 165 000 196 000 32 200 5197 200 30000 $226 000 Hongha Ltd Income Statement For the Year Ending 30 June 2020 S 1750 000 Sales Less Cost of Goods Sold 600.000 Gross Profit 147 000 Add Profit on Sale of Plant and Equipment 600 147 600 130 800 6 000 Less Expenses General Expenses Depreciation - Plant and Equipment Depreciation - Office Equipment Profit before Tax Less Income Tax Expense Net Profit After Tax 800 137 600 10 000 4200 SS 800 Additional Information A dividend was paid during the year which amounted to $8 000. Plant and equipment costing $5 000 was sold during the year and proceeds amounting to $3 000 received. At the date of sale the accumulated depreciation of the asset amounted to $2 600. Required Prepare a statement of cash flows for Hongha Ltd for the year ending 30 June 2020. Show all calculations. ri

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!