Answers to Questions 4 7 Accounting Accounting Analysis Student's Name: University Name
Added on 2020-05-03
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Running head: ACCOUNTING ANALYSISAccounting AnalysisStudent’s Name:University Name:Author Note
1ACCOUNTING ANALYSISTable of ContentsPart A.........................................................................................................................................2Answer to Question 1.............................................................................................................2Answer to Question 2.............................................................................................................2Answer to Question 3.............................................................................................................2Answer to Question 4.............................................................................................................4Answer to Question 5.............................................................................................................4Answer to Question 6.............................................................................................................5Answer to Question 7.............................................................................................................5Part B..........................................................................................................................................5Answer to Question 1.............................................................................................................5Answer to Question 2.............................................................................................................6Answer to Question 3.............................................................................................................6Answer to Question 4.............................................................................................................7References..................................................................................................................................9
2ACCOUNTING ANALYSISPart AAnswer to Question 1The current liabilities of JB Hi-Fi Limited have increased over the year. This isevident from the consolidated financial statements published by the company in the financialyear of 2013. According to the consolidated balance sheet prepared by the company the totalcurrent liabilities for the financial year of 2012 is $439,481and that for 2013 is $442,379.Therefore this clearly indicates that the current liabilities have increased by an amount of$2898. The component of current liabilities that contributed mostly to the increased amountof current liabilities in comparison to the financial year of 2012 is Current tax liabilities.The class of liability that is recorded under the classification of Current Liabilities arespecifically the obligations or debts that are due in a short period of time. The CurrentLiabilities essentially refer to those liabilities that appear in the balance sheet of the companyand are due in payment to the suppliers or creditors of the company within that specificfinancial year (Horngren et al., 2012).Answer to Question 2The major liabilities of JB Hi-Fi Limited at the end of the financial year are the Tradeand Other Payable under the head of Current Liabilities and Borrowings under the head Non-current Liabilities. This is because the Trade and Other Payables accounts for an amount of$387,020 which is approximately 64.55% of the total liabilities incurred by the company. TheNon-Current Borrowings also is a major liability. This is because it accounts for an amount of$124,331which forms around 20.73% of the total current liability of the company.
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