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2019 Final Solution

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joehe2625
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22 views1 page

2019 Final Solution

Uploaded by

joehe2625
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Functional currency

Local Currency $NZ Euro


Income statement for year ended 30 June 2019 Euro Exchange rate $NZ Exchange rate $NZ
Sales revenue 500,000 1.7 850000 1.7 850000
Opening Stock 50,000 2 100000 2 100000
Purchases 250,000 1.7 425000 1.7 425000
Ending inventory -100,000 1.6 -160000 1.6 -160000
Cost of Goods Sold 200,000 365000 365000
Gross Profit 300,000 485000 485000
Depreciation -50,000 2 -100000 1.7 -85000
Foreign currency gain/loss -64000
Other expenses -100,000 1.7 -170000 1.7 -170000
Tax expense -50,000 1.7 -85000 1.7 -85000
Net Profit 100,000 66000 145000
Retained Earnings 1/7/18 100,000 2 200000 2 200000
Dividends -20,000 1.8 -36000 1.8 -36000
Retained Earnings 30/6/19 180,000 230000 309000

Balance Sheet 30 June 2019


Contributed Capital 300,000 2 600000 2 600000
Retained Earnings 180,000 230000 309000
Foreign currency translation reserve -189000
Accounts Payable 200,000 1.5 300000 1.5 300000
Total Liabilities and Equity 680,000 1130000 1020000
Plant Assets (net) 200,000 2 400000 1.5 300000
Inventory 100,000 1.6 160000 1.5 150000
Cash and accounts receivable 380,000 1.5 570000 1.5 570000
Total Assets 680,000 1130000 1020000

Net monetary positon- beginning 100,000 2 200000


Sales 500,000 1.7 850000
Purchases -250,000 1.7 -425000
Other expenses -100,000 1.7 -170000
Tax expense -50,000 1.7 -85000
Dividends -20,000 1.8 -36000
334000
180,000 1.5 270000
FC loss -64000

Net Asset position- beginning 400000 2 800000


Net Profit 100,000 145000
Dividends -20,000 1.8 -36000
909000
Net asset position - ending 480000 1.5 720000
FCTR -189000

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