Question 2.2:

You are worried that Lamia Scale Ltd. may have accidentally forgotten to record some transactions during the year. For each of the following transactions, use the response template provided to indicate in the "Impact" column whether the given ratio would have increased, decreased, or not changed if Lamia Scale had recorded the listed transaction. Each transaction's effects should be considered independently. (10 marks: 2.5 marks each) 

(Note: You don't need to show your workings)

Question 2.1: The following information relates to Lamia Scale Ltd.

Using the Du Pont framework and the response template provided below, calculate the return on equity and its three drivers for 2024 and 2023. (Round your answers to 2 decimal places. You should show all workings). Once your calculations are presented in the response template below, in 50 words or less, discuss what is driving the change in return on equity from 2023 to 2024. (10 marks) 

Note: You can refer to the COMM1140 ratio list.

Question 1.3: In the balance sheet as at 30 June 2024, what would be the closing balance of retained profits? Show all workings. (5 marks)

Note: Use the response template provided below to answer this question.

Question 1.1: Record each transaction (transactions 1 to 8) in the table below. (11 marks)

Please use the response template provided. 

Question 1.2: Prepare an income statement for the year ended 30 June 2024. (9 Marks)

Note: Use the response template provided below to answer this question.

2.      

Discuss what these numbers indicate

to you as a current investor. (4 marks)

4.     

You are worried

HEALTHYME may have accidentally forgot to record some transactions during the year. For each of

the follow transactions, indicate whether the

given ratio would have increased, decreased, or not changed if HEALTHYME

had recorded the listed transaction. Each transaction’s effects

should be considered independently. (10 marks)

1.     

3.     

Describe two internal controls

that could be put in place to enhance financial

reporting quality at SHOPSPACE.