Tutorial 6

Jane Lazar (8th Edition)-Chapter 4-

Financial Statement
Question 4.4
page 144
(a) Prepare a schedule to calculate the adjusted profit after tax
for the year ended 30 June x5.

1 July x4
5mil was expensed off
But expenses from 1 July x5 until 31
December x5 is not incurred yet.

1 December x4 31 June x5
1,086 - 120
2% x 524,000
10% x (19,000 3,800)
Int. received because it have balance,
mean that it did not include in retained
profit
(b)

11,200 + 10,480

3,800 + 1,520
 Interim dividend paid

Tax expense tax paid

Accrued exp + interest
Question 4.5
page 145
 15k + 323k (16k -4k +1.5k)

102k +3k + 10% (200k )

82k + 24k + 4%(600k) +2k
8k 2k

27,500 25,000 (investment)

120k x 12%

21k + 2k

Freehold land revaluation

 210k + 24k

85k 12k + 20k

(16k -4k +1.5k)

25k -23k