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    Atlas

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    Suman Koirala
    This document summarizes the profit and loss and statement of financial position for Moby Co. The company had total revenue of $237800 and cost of sales of $187900, resulting in gross profit of $49900. After administrative expenses of $16350 and distribution costs of $13500, operating profit was $20050. Finance costs were $7830 and income tax expense was $350, resulting in net profit of $11870. Total comprehensive income including other comprehensive income was $15170. Total assets were $184100 including non-current assets, inventory, and receivables. Total equity and liabilities were $186250 including owner's equity, retained earnings, provisions,

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    Atlas

    Uploaded by

    Suman Koirala
    5 views7 pages
    This document summarizes the profit and loss and statement of financial position for Moby Co. The company had total revenue of $237800 and cost of sales of $187900, resulting in gross profit of $49900. After administrative expenses of $16350 and distribution costs of $13500, operating profit was $20050. Finance costs were $7830 and income tax expense was $350, resulting in net profit of $11870. Total comprehensive income including other comprehensive income was $15170. Total assets were $184100 including non-current assets, inventory, and receivables. Total equity and liabilities were $186250 including owner's equity, retained earnings, provisions,

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    This document summarizes the profit and loss and statement of financial position for Moby Co. The company had total revenue of $237800 and cost of sales of $187900, resulting in gross profit of $49900. After administrative expenses of $16350 and distribution costs of $13500, operating profit was $20050. Finance costs were $7830 and income tax expense was $350, resulting in net profit of $11870. Total comprehensive income including other comprehensive income was $15170. Total assets were $184100 including non-current assets, inventory, and receivables. Total equity and liabilities were $186250 including owner's equity, retained earnings, provisions,

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    5 views7 pages

    Atlas

    Uploaded by

    Suman Koirala
    This document summarizes the profit and loss and statement of financial position for Moby Co. The company had total revenue of $237800 and cost of sales of $187900, resulting in gross profit of $49900. After administrative expenses of $16350 and distribution costs of $13500, operating profit was $20050. Finance costs were $7830 and income tax expense was $350, resulting in net profit of $11870. Total comprehensive income including other comprehensive income was $15170. Total assets were $184100 including non-current assets, inventory, and receivables. Total equity and liabilities were $186250 including owner's equity, retained earnings, provisions,

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    of 7

    statement of profit and loss

    Revenue 237800
    cost of sales 187900

    gross profit 49900


    w1
    adm exp 16350
    dis cost 13500

    operating profit 20050


    finance cost 7830
    income tax 350

    profit 11870
    OCI
    rev surplus 4400
    def tax -1100 w2
    total OCI 3300
    total comprehensive inc 15170

    SOFP
    Assets
    NCA
    PPE
    land 16000
    building 36000
    ROUA 21000
    owned ppe 42000

    CA
    inventory 26600
    trade rec 38500
    contract assets 4000

    total 184100

    Equity and Liabiltiy


    osc 45800
    sp 3200
    rr 3300
    re 29670

    liability
    ncl
    lease 16132
    loan notes 44000 -2150
    prov 150
    lease cl 6898
    trade payables 21300
    tax payables 3400
    def tax 7100
    bank 5300

    186250

    w3

    w4

    w5
    w6

    w7
    Moby Co

    workings in $'000

    revenue from contract contract asset

    work completed 40
    revenue 10000
    cost till date 14000 total profit 5000
    till now 2000

    this contract is based on work certified right? So it means that all the COS is also on the based on the percentage of progress

    non current assets


    revaulation of land 4000

    building
    CA of building at year start 38000 total revaluation of 4400
    revalued to 38400

    remaining life 16

    dep for the year 2400


    CA at year end 36000

    ROUA
    acquired on 1OCT20X1
    5 year lease

    cost 35000

    depreciatio 7000

    to recognize as lease liabilit

    year b/f fin cost cash paid c/f


    1 35000 3500 9200 29300
    2 29300 2930 9200 23030 CL 6898
    3 23030 2303 9201 16132 NCL 16132
    4 16132 1613.2 9202 8543.2
    5 8543.2 854.32 9203 194.52
    owned asset
    cost 65700
    acc dep 17700

    CA 48000
    dep for the year 6000
    CA at year end 42000

    total depreciation for the yeat 15400

    provisions

    dr adm exp 400


    cr provision 400

    during the year of it incured the expenses of 250

    Dr provision 250
    Cr cash 250

    now the remaining balance is


    Dr admin exp 150
    Cr provision 150

    income tax

    estimate of 3400
    over provison of 1050
    deductable -2000
    income tax exp 350

    def tax
    closing balance 6000 1100 7100
    OI 8000

    ded -2000

    for revaluation surplus


    total revaulation is of 4400
    tax rat 25%

    def tax 1100


    this thing gets deducted to RR through OCI

    loan notes

    year b/f fin charge int paid c/f


    1 40000 4000 0 44000
    2 44000 4400 0 48400
    3 48400 4840 1 53240

    finance chrage is of 4000 6

    share issued
    4000 for 1
    n the percentage of progress

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