WEEK 5 CASE STUDIES

WEEK 5 CASE STUDIES - Lecture case study Week 5 Presented...

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Lecture case study – Week 5 Presented below is a draft set of simplified accounts for Luna Ltd for the year ended 30 June 2007. Luna Ltd Income Statement for the year ending 30 June 2007 $’000 $’000 Sales 1,456 Cost of sales 768 Gross profit 688 Less expenses: Salaries 220 Depreciation 249 Other operating expenses 131 600 Operating profit 88 Interest expense 15 Profit before taxation 73 Taxation expense – 30% 22 Profit after taxation 51 Dividend proposed 25 Profit retained for the year 26 Luna Ltd Balance sheet as at 30 June 2007 $’000 $’000 Current assets Cash at bank 21 Trade debtors 182 Inventory 207 410 Non-current assets Plant & equipment 1,570 Accumulated depreciation (690) 880 Total assets 1,290 Current liabilities Bank overdraft 105 Trade creditors 22 Other creditors 88 Tax payable 20 Dividends payable 25 260 Non-current liabilities 10% debentures – repayable 2009 300 Total liabilities 560 Shareholders equity Share capital 600 Retained profit 130 730 Total liabilities and shareholders equity 1,290
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WEEK 5 CASE STUDIES - Lecture case study Week 5 Presented...

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