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REQUIRED Use the information provided below to prepare the following: 4.1 Budgeted Statement of...

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Accounting

REQUIRED
Use the information provided below to prepare the following:
4.1
Budgeted Statement of Comprehensive Income for the year ended 30 June 2024.
(5 marks)
4.2
Budgeted Statement of Financial Position as at 30 June 2024.
(15 marks)
INFORMATION
MARBURG LTD
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2023
R
Sales
4800000
Cost of sales
(3600000)
Gross profit
1200000
Expenses
(600000)
Profit before tax
600000
Company tax (30% of pre-tax profit)
(180000)
Profit after tax
420000
MARBURG LTD
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2023
R
ASSETS
Non-current assets
2100000
Fixed/Tangible assets
2100000
Current assets
1800000
Inventories
600000
Accounts receivable
900000
Cash and cash equivalents
300000
Total assets
3900000
EQUITY AND LIABILITIES
R
Shareholders equity
1950000
Ordinary share capital (450000 shares)
900000
Retained earnings
1050000
Non-current liabilities
1200000
Long-term loan
1200000
Current liabilities
750000
Accounts payable
732000
Company tax payable
18000
Total equity and liabilities
3900000

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