SECTION A: (14 MARKS)
Use your kills to Analyze, compare, criticize, evaluate and justify the answers in a process to solve the assignment.
RAY Limited
|
Balance Sheet as at 30 thJune
$ |
$ |
||
|
Current Assets
|
2013 |
2012 |
|
|
Cash |
40,000 |
60,000 |
|
|
Account Receivables |
650,000 |
300,000 |
|
|
Allowance for doubtful debts |
(50,000) |
(50,000) |
|
|
Inventory |
700,000 |
290,000 |
|
|
1,340,000 |
600,000 |
||
|
Non Current Assets
|
|||
|
Equipment |
1,800,000 |
1,100,000 |
|
|
Accumulated depreciation |
(550,000) |
(100,000) |
|
|
Capitalized borrowing cost |
200,000 |
||
|
1,450,000 |
1,000,000 |
||
|
Total Assets
|
2,790,000 |
1,600,000
|
|
|
Current Liabilities
|
|||
|
Account payable |
670,000 |
556,000 |
|
|
Tax payable |
60,000 |
44,000 |
|
|
730,000 |
600,000 |
||
|
Non Current Liabilities
|
|||
|
Loan |
580,000 |
600,000 |
|
|
Total Liabilities
|
1,310,000 |
1,200,000 |
|
|
Net Assets
|
1,480,000 |
400,000 |
|
|
Shareholder’s Equity
|
|||
|
Share Capital |
1,150,000 |
250,000 |
|
|
Retained Profit |
330,000 |
150,000 |
|
|
1,480,000 |
400,000 |
||
|
Sales (all on credit)
|
1000,000 |
640,000 |
|
|
Net profit after tax |
200,000 |
128,000 |
|
|
EBIT |
290,000 |
197,000 |
|
|
Tax expenses |
41,000 |
32,000 |
|
Attachments:
Group Assignm….pdf