Following information relate to Hawke Ltd for the financial year ended 2020 Hawke LtdStatement of Financial position As at 30 June 2020 20202019Assets Cash at bank84200100000Accounts receivable208000172000Required; 1.Cash collected from customers 2.Cash paid to suppliers 3.Cash paid to employees for wages and salary 4.Cash spent on plant and equipment 5.Proceeds from sale of equipment 6.Cash paid for insurance Inventory200000208000Prepaid insurance1200020000Interest receivable4006008000040000Investments800000720000Plant and equipmentLess: Accumulated depreciation-200000-18000011846001080600Total assetsLiabilities152000128000Accounts payableProvision for employee benefitsOther expenses payableEquityShare capital2400016000800012000800000800000200600124600Retained earnings11846001080600Total liabilities and equityHawke LtdStatement of Financial performanceFor the period ended 30 June 20202020Income$1,920,000$4,000Sales revenue$1,924,000Interest revenue on investmentsLess: Expenses$1,344,000Cost of sales$260,000Employee expensesInsurance expense$32,000$8,000Loss on sale of equipmentDepreciation expense-plant and equipmentOther expenses$80,000$44,000$1,768,000$156,000Profit for the yearAdditional informationThe loss on sale of equipment relates to an item that originally cost $80 000 and had a carrying amount of $20000 whensold.

Following information relate to Hawke Ltd for the financial year ended 2020 Hawke Ltd Statement of Financial position As at 30 June 2020 2020 2019 Assets Cash at bank 84200 100000 Accounts receivable 208000 172000 Required; 1.Cash collected from customers 2.Cash paid to suppliers 3.Cash paid to employees for wages and salary

Following information relate to Hawke Ltd for the financial year ended 2020 Hawke Ltd Statement of Financial position As at 30 June 2020 2020 2019 Assets Cash at bank 84200 100000 Accounts receivable 208000 172000 Required; 1.Cash collected from customers 2.Cash paid to suppliers 3.Cash paid to employees for wages and salary

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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