- Dream Rock Watches Ltd Statement Of Financial Position As On 30 June 2022 Forecasted 000 400 1250 2250 100 4 000 300 1 (47.38 KiB) Viewed 38 times
risk, what audit strategy would you adopt? Explain why.
Dream Rock Watches Ltd Statement of Financial Position as on 30 June 2022 (Forecasted) $'000 400 1250 2250 100 4,000 300 100 400 4,400 Assets Current assets Cash Trade receivables Inventories Other receivables Total current assets Non-current assets Property, plant and equipment Intangible Assets Total non-current assets Total assets Liabilities Current liabilities Trade payables Bank overdraft Other Short term bank loans Expenses payables Total current liabilities Non-Current Liabilities Long term loan from Bank Total liabilities Net Assets/ (Liabilities) Equity Share Capital Reserves Accumulated profit/losses Total equity 150 160 10 80 400 1,300 1,700 2,700 2,300 50 350 2,700 2021 $ '000 1100 1000 1600 50 3750 350 100 450 4,200 100 200 20 80 400 900 1,300 2,900 2,300 50 550 2,900
Dream Rock Watches Ltd Income Statement for the year ended 30 June 2022 (Forecasted) $ '000 3,000 300 3,300 1400 620 100 125 200 800 215 3,460 -160 0 -160 Sales Revenue Other income Total Income Expenses Cost of goods sold Salaries Depreciation and Amortization expense Professional fees Other expenses Finance costs Rent expense Total Expenses Profit (Loss) before income tax expense Income tax expense Profit (Loss) after income tax expense 2021 $ '000 3600 100 3,700 1500 800 100 146.5 250 430 260 3,487 213.5 0 213.5