Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Illustrations of Accounting PoliciesA Ltd., has decided to change its policy of writing off borrowing costs to capitalizing the same. As at 31st December, 2003, the company had written off borrowing costs amounting to £200,000. During the year ended 31/12/04. The company reported profit for the period of £450,000 but after charging borrowing costs of £50,000. As at 31/12/03 the retained profits were £1,500,000. Other transactions were:-• Transfer from revaluation reserve on sale of PPE - £40,000• Transfer from retained profits to general reserve - £50,000• Interim dividends paid - £200,000Required: Prepare the statement of changes in equity extract for the year-ended 81/12/04
Retained profits
£
Balance as at 1.1.2004
1,500,000
Change in accounting policy
200,000
Balance as restated
1,700,000
Transfer from revaluation reserve on sale of PPE
40,000
Profit for the period (450,000 + 50,000)
500,00
Transfer to general reserve
(50,000)
Interim dividends paid
(200,000)
Balance as at 31/12/2004
1,990,000
Steps for preparing Final Accounts The following steps should be followed in preparing the final accounts where we have a foreign branch. 1. Update the trial balance of the br
Illustration for preparing final accounts K Ltd established a branch in Arusha Tanzania on 1.1.X2, when Kshs 1 = TShs 15. PPE costing Kshs 800,000 were purchased on that day. I
The office building was bought in January 1, 2011 and was originally planned to be used for 40 years and had no salvage value. It is depreciated on a straight line basis. Now in
The net present value has been computed for Proposals A and B. proposal A proposal B invested amount 75000 125000 total present value of cash 84000 136250 net present value 9000 11
How do I prepare a partial income statement under each inventory method?
For each of the ratios listed below, indicate by the appropriate code letter, whether itis a liquidity ratio, a profitability ratio, or a solvency ratio. Code: L=Liquidity rati
Q. What do you mean by Bankruptcy? Bankruptcy - Legal process, governed by federal statute, whereby the DEBTS of an insolventperson are liquidated after being satisfied to the
1. Calculate the profitability index for a project that has a net present value equal to -$10,000. The project's net investment is $20,000. 2. A project requires a net investmen
I am working on the comprehensive probelm and I can not figure out the trial balance. Where am I going wrong?
Principles, concepts and CONVETIONS
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd