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Exam (elaborations)

Financial Reporting and Analysis Memo ()

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MANCOSA Financial Reporting and Analysis Memo for the 24th of April 2018

Institution
Financial Reporting And Analysis
Course
Financial Reporting and Analysis

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FINANCIAL REPORTING AND ANALYSIS
APRIL 2018

MEMORANDUM



PREPARED BY: MTHOMBENI
0767297208

, QUESTION 1
STATEMENT OF COMPREHENSIVE INCOME OF BIG BOY TRADERS FOR THE YEAR
ENDED 28 FEBRUARY 2018

Sales (510000-10000) 500000
Cost of sales (250000)
Gross profit 250000
Other operating income 16500
Bad debts recovered 1000
Commission income (8000+5000) 13000
Provision for bad debt adjustment (4000-1500) 2500
Gross operating income 266500
Operating expenses (205100)
Trading stock deficit (60000-58000) 2000
Stationery (2000-400) 1600
Discount allowed (500+100) 600
Motor expense (18000+4000) 22000
Bad debts (1000+1000) 2000
Water and electricity (13000+1300) 14300
Insurance (6000-600) 5400
Bank charges (3000+200) 3200
Depreciation (10000+22000) 32000
Salaries and wages 86000
Rent expense 26000
Telephone 10000
Operating profit before interests 61400
Interest income 100
Interest expense (13200+1200) (14400)
Net profit for the year 47100




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Financial Reporting and Analysis
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Financial Reporting and Analysis

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January 8, 2022
Number of pages
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Written in
2018/2019
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