Reference no: EM13342601
SECTION A:
Use your kills to Analyze, compare, criticize, evaluate and justify the answers in a process to solve the assignment.
ANZ Limited
Balance Sheet as at 30th June
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$
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$
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Current Assets
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2012
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2011
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Cash
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40,000
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60,000
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Account Receivables
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650,000
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300,000
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Allowance for doubtful debts
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(50,000)
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(50,000)
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Inventory
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700,000
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290,000
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1,340,000
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600,000
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Non-Current Assets
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Equipment
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1,800,000
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1,100,000
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Accumulated depreciation
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(550,000)
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(100,000)
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Capitalized borrowing cost
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200,000
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---------
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1,450,000
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1,000,000
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Total Assets
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2,790,000
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1,600,000
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Current Liabilities
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Account payable
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670,000
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556,000
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Tax payable
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60,000
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44,000
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730,000
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600,000
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Non- Current Liabilities
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Loan
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580,000
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600,000
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Total Liabilities
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1,310,000
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1,200,000
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Net Assets
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1,480,000
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400,000
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Shareholder's Equity
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Share Capital
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1,150,000
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250,000
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Retained Profit
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330,000
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150,000
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1,480,000
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400,000
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Sales (all on credit)
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1000,000
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640,000
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Net profit after tax
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200,000
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128,000
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EBIT
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290,000
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197,000
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Tax expenses
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41,000
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32,000
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Required :
1.a. What is the interest expense for 2012?
b. How much equipment was purchased during the year?
c. What was the depreciation expense for 2012?
d. Were any share issues? If any, calculate the value.
e. How much in dividend was paid during the year 2012?
f. How much cash was received from customers during the year?
g. How much was paid in tax?
2. Referring to the information in the question, provide four examples of accounting policy choices that ANZ may have made in determining profit that may have increased this year's profit.
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