Questions from General Accounting

Q: The importance of cash flow to people both inside and outside an

The importance of cash flow to people both inside and outside an entity is apparent by a quick look through financial papers and internet sites. For instance, Foster’s Group Ltd eagerly announced in t...

Q: Information for Fred and Ginger’s Dance Pty Ltd has been extracted from

Information for Fred and Ginger’s Dance Pty Ltd has been extracted from its financial statements and is presented below. Information relating to the year ended 30 June 2020 is as fo...

Q: Dick Smith Holdings Ltd was a company operating in the consumer electronics

Dick Smith Holdings Ltd was a company operating in the consumer electronics goods area. Dick Smith commenced this business in 1968. It was acquired by Woolworths during the early 1980s and was sold to...

Q: What is the main expense incurred by a retail business? Comment

What is the main expense incurred by a retail business? Comment on how this differs to: 1) A service business; and 2) A manufacturing business.

Q: What is meant by the term ‘cash’?

What is meant by the term ‘cash’?

Q: A comparative statement of financial positions as at 31 December 2019 and

A comparative statement of financial positions as at 31 December 2019 and 2020 for Flowers Ltd is shown below. Sales for 2020 were $180 000 and profit after tax was $16 350. Cost of sales was $136 45...

Q: Prepare a reconciliation of cash flows from operating activities and profit after

Prepare a reconciliation of cash flows from operating activities and profit after tax for Flowers Ltd from problem 7.40. In problem 7.40

Q: Refer to problems 7.40 and 7.41 and complete

Refer to problems 7.40 and 7.41 and complete an evaluation of the statement of cash flows of Flowers Ltd. In problem 7.40 and 7.41

Q: Financial statements of Food and Wine Ltd are presented below.

Financial statements of Food and Wine Ltd are presented below.

Q: Prepare a reconciliation of cash flows from operating activities and profit after

Prepare a reconciliation of cash flows from operating activities and profit after tax for Food and Wine Ltd from problem 7.43. In problem 7.43 Financial statements of Food and Wine Ltd are presented...