Alpine Limited has the following items in its statement of profit or loss and other comprehensive...
Alpine Limited has the following items in its statement of profit or loss and other comprehensive income: NZ$ Revenue 140,000 Cost of goods sold 85,000 Interest expense 14,000 Income tax expense 12,000 All items arose evenly across the year. The following exchange rates applied: End of reporting period NZ$1.00 = A$0.90 Average rate for year NZ$1.00 = A$0.85 The net profit after tax translated into the presentation currency of A$ is: $34,118. $26,100. $46,750. $24,650.
Homework Answers
| Answer is $ 24650 | ||||
| Explanation: | ||||
| Income in NZ $ | ||||
| Revenue | 140000 | |||
| Less: Cost of good s sold | -85000 | |||
| Less: Interest | -14000 | |||
| Less: Taxes | -12000 | |||
| Net income in NZ $ | 29000 | |||
| Multiply: Exchange rate average | 0.85 | |||
| Net Income in A $ | 24650 | |||
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