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Category > Management Posted 09 Jan 2018 My Price 7.00

Hungarian telecommunica- tions company

16.   Relating net income to balance sheet changes. Magtelkom, a Hungarian telecommunica- tions company, reported the following balance sheet information for Year 11 and Year 12. Magtelkom applies IFRS and reports in millions of Hungarian forints (HUF).

 

Magtelkom

Balance Sheet Data Year 11 and Year 12

 

 

 

Year 12                          Year 11

 

Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

HUF1,135,578

HUF1,131,595

Total Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

553,885

538,428

Contributed Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

129,954

128,728

Minority Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .

66,695

67,128

Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

385,044

?

 

During Year 12, Magtelkom declared and paid dividends of HUF72,729 million and made other adjustments, which increased retained earnings by HUF307   million.

a.   Compute Magtelkom’s balance in Retained Earnings for Year 11.

b.   Compute Magtelkom’s net income for Year 12.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Jan 2018 11:01 AM My Price 7.00

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