Iaa Accounts

Bakehouse Pty Ltd |
Statement of Financial Position for the year ended 30 June 2013 |
Assets |
Current Assets |
| Cash | 15 500 | |
| Accounts Recievable | 22 000 | |
| Total Current Assets | | 37 500 |
Non-Current Assets |
| Furniture | 12 000 | |
| Less: Accum. Depreciation | 4 800 | |
| Equipment | 35 000 | |
| Less: Accum. Depreciation | 10 500 | |
| Building | 45 750 | |
| Total Non-Current Assets | | 77 450 |
Total Assets | | 114 950 |
| | | |
Liabilities and Shareholders’ Equity |
Current Liabilities |
| Accounts Payable | | 30 000 |
| Total Current Liabilities | | 30 000 |
|
Non-Current Liabilities |
| Bank Loan- Due 2017 | | 53 000 |
Total Liabilities | | 83 000 |
| | | |
Shareholders’ Equity |
| McEnroe, Capital | | 20 000 |
| Retained Earnings | | 11 950 |
Total Shareholders’ Equity | | 31 950 |
Total Liabilities and Equity | | 114 950 |
Bakehouse Pty Ltd |
Income Statement |
as at 30 June 2013 |
Income |
| Pie Sales | | 93 000 |
| Less: Cost of goods sold | | 37 500 |
| Gross Profit | | 55 500 |
Operating Expenses |
| Insurance Expense | 10 000 | |
| Advertising | 4 500 | |
| Wages and Salaries | 25 000 | |
| Depreciation Expense – Equipment | 3 500 | |
| Depreciation Expense – Furniture | 1 200 | 44 200 |
Net Profit Before Tax | | 11 300 |
Income Tax Expense (30%) | | 3 390 |
Net Profit After Tax | | 7 910 |Trend analysis: 2010 is base year
|
(1) Revenue: |
| 2014 | 2013 | 2012 | 2011 | 2010 |
| 115 750 | 117 564 | 88 263 | 93 575 | 85 651 |
| 135.14% | 137.26% | 103.05% | 109.25% | 100.0% | (2) Profit before tax and finance costs: 2014 | 2013 | 2012 | 2011 | 2010 |
30 032 | 33 785 | 23 079 | 24 592 | 24 843 |
120.89% | 135.99% | 92.89% | 98.99% | 100% | (3) Profit after…