Zephyr Limited Has the Following Items in Its Statement of Profit

question 17

Multiple Choice

Zephyr 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:

• A) $46 750
• B) $24 650
• C) $34 118
• D) $26 100

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