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    Cash Flow Problems

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    MeiMisaki
    Caddy Shack Pty Ltd saw a decrease in current assets from 2018 to 2019, with cash on hand and inventory decreasing, though cash at bank and accounts receivable increased. Total assets also decreased from 2018 to 2019. Current liabilities decreased over this period while non-current liabilities, specifically mortgage, decreased. For the year ended 30 June 2019, Caddy Shack had a gross profit of $42,200 on net sales of $104,000, with a final profit after expenses and taxes of $9,380.

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    Cash Flow Problems

    Uploaded by

    MeiMisaki
    57 views2 pages
    Caddy Shack Pty Ltd saw a decrease in current assets from 2018 to 2019, with cash on hand and inventory decreasing, though cash at bank and accounts receivable increased. Total assets also decreased from 2018 to 2019. Current liabilities decreased over this period while non-current liabilities, specifically mortgage, decreased. For the year ended 30 June 2019, Caddy Shack had a gross profit of $42,200 on net sales of $104,000, with a final profit after expenses and taxes of $9,380.

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    For accounting.

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    Cash flow problems

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    Caddy Shack Pty Ltd saw a decrease in current assets from 2018 to 2019, with cash on hand and inventory decreasing, though cash at bank and accounts receivable increased. Total assets also decreased from 2018 to 2019. Current liabilities decreased over this period while non-current liabilities, specifically mortgage, decreased. For the year ended 30 June 2019, Caddy Shack had a gross profit of $42,200 on net sales of $104,000, with a final profit after expenses and taxes of $9,380.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    57 views2 pages

    Cash Flow Problems

    Uploaded by

    MeiMisaki
    Caddy Shack Pty Ltd saw a decrease in current assets from 2018 to 2019, with cash on hand and inventory decreasing, though cash at bank and accounts receivable increased. Total assets also decreased from 2018 to 2019. Current liabilities decreased over this period while non-current liabilities, specifically mortgage, decreased. For the year ended 30 June 2019, Caddy Shack had a gross profit of $42,200 on net sales of $104,000, with a final profit after expenses and taxes of $9,380.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    You are provided with the following financial information for Caddy Shack Pty Ltd, a golf equipment

    and
    apparel retailer:

    CADDY SHACK PTY LTD


    COMPARATIVE BALANCE SHEETS
    AS AT 30 JUNE

    2019 2018

    Current Assets
    Cash on Hand $2 000 $4 000
    Cash at Bank 1 400 -
    Accounts Receivable (net) 4 800 4 950
    Inventory 18 500 20 100
    Prepaid Expenses 1 480 $28 180 890 $29 940
    Non-Current Assets
    Plant & Equipment 75 000 72 000
    less Acc. Depreciation (25 700) 49 300 (19 700) 52 300
    Total Assets 77 480 82 240

    Current Liabilities
    Bank Overdraft - 2 400
    Accounts Payable 3 800 4 250
    Accrued Expenses 920 850
    Tax Payable 980 5 700 1 340 8 840
    Non-Current Liabilities
    Mortgage 18 000 20 000
    Total Liabilities 23 700 28 840
    Net Assets $53 780 $53 400

    Equity
    Share Capital 35 000 29 000
    Retained Earnings 18 780 24 400
    $53 780 $53 400

    (continued .........)
    CADDY SHACK PTY LTD
    INCOME STATEMENT
    FOR THE YEAR ENDED 30 JUNE 2019

    Net Sales $104 000


    Cost of Sales 61 800
    Gross Profit 42 200
    Other Revenue:
    Discount Received 450
    42 650
    Expenses:
    Selling & Admin Expense $26 160
    Doubtful Debts Expense 430
    Interest Expense 2 680 29 270
    Profit before Tax 13 380
    Income Tax Expense 4 000
    Profit $ 9 380

    Additional Information
     All asset purchases were made in cash.
     The Selling & Admin Expenses includes Depreciation expense of $6,000.
     During the year 12,000 shares were issued at 50c per share.

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