12 005 Share capital 170 2 80 000 170 000 General 22

12 005 share capital 170 2 80 000 170 000 general 22

This preview shows page 14 - 17 out of 17 pages.

12 005 Share capital 170 000 80 000 2 80 000 170 000 General reserve 41 000 22 000 2 16 000 47 000 Business comb. valuation reserve -- -- 2 11 800 5 600 5 500 700 1 1 2 -- Total equity 226 800 131 000 229 005 Debentures 120 000 -- 120 000 Def. tax liability 1 600 2 400 1 1 800 Dividend payable 10 000 3 000 4 3 000 10 000 Current tax liability 8 000 2 500 10 500 Other payables 34 800 10 100 44 900 Advance from Madaleine Ltd -- 10 000 9 10 000 -- Total liabilities 172 800 25 600 187 200 Total equity and liabilities 399 600 156 600 416 205
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Week 8 Seminar Activities 15 Monique Ltd Madaleine Ltd Adjustments Group Dr Cr Shares in Madaleine Ltd 137 200 -- 137 200 2 -- Land -- 24 480 24 480 Motor vehicles 28 000 22 000 50 000 Accumulated depreciation (4 000) (2 000) (6 000) Furniture & fittings 34 000 37 300 1 2 000 1 000 7 72 300 Accumulated depreciation (2 000) (6 000) 1 8 6 000 150 2 000 1 (3 850) Inventory 171 580 70 320 1 000 6 240 900 Deferred tax asset 16 200 7 400 6 7 300 300 45 8 24 155 Advance to Madaleine Ltd 10 000 -- 10 000 9 -- Other assets 8 620 3 100 3 000 4 8 720 Goodwill -- -- 1 5 500 5 500 Total assets 399 600 156 600 189 620 189 620 416 205
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Week 8 Seminar Activities 16 MONIQUE LTD Consolidated Statement of Profit or Loss and Other Comprehensive Income for financial year ended 30 June 2013 Revenues: Sales revenue $135 000 Other 40 000 $175 000 Expenses: Cost of sales 104 300 Other 50 650 154 950 Profit before income tax 20 050 Income tax expense 8 465 Profit for the period $11 585 Comprehensive income for the period $11 585 MONIQUE LTD Consolidated Statement of Changes in Equity for financial year ended 30 June 2013 Comprehensive income for the period $11 585 Retained earnings: Balance at 1 July 2012 $14 420 Profit for the period 11 585 Dividend paid (4 000) Dividend declared (10 000) Balance at 30 June 2013 $12 005 Share capital: Balance at 1 July 2012 $170 000 Balance at 30 June 2013 $170 000 General reserve: Balance at 1 July 2012 $47 000 Balance at 30 June 2013 $47 000
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Week 8 Seminar Activities 17 MONIQUE LTD Consolidated Statement of Financial Position as at 30 June 2013 ASSETS Current Assets Inventories $240 900 Non-current Assets Property, plant and equipment Land $24 480 Furniture and fittings $72 300 Accumulated depreciation (3 850) 68 450 Motor vehicles 50 000 Accumulated depreciation (6 000) 44 000 136 930 Other assets 8 720 Goodwill 5 500 Tax assets: Deferred tax asset 24 155 Total Non-current Assets 175 305 Total Assets $416 205 EQUITY AND LIABILITIES Equity Share capital $170 000 General reserve 47 000 Retained earnings 12 005 Total Equity $229 005 Current Liabilities Dividend payable 10 000 Current tax liabilities 10 500 Other payables 44 900 Total Current Liabilities 65 400 Non-current Liabilities : Deferred tax liabilities 1 800 Interest-bearing liabilities: Debentures 120 000 Total Non-current Liabilities 121 800 Total Liabilities $187 200 Total Equity and Liabilities $416 205
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