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  • QN 83

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    MR.diwash Pokhrel
    10 views3 pages
    1. The company recorded a $300,000 revenue adjustment and $15,000 in finance costs on a loan. 2. $3,000,000 was spent on research expenses and $4,800,000 was capitalized as a non-current asset for research and development. 3. Property was revalued, resulting in a $2,400,000 gain recorded in other comprehensive income. Plant and equipment are recorded at cost less accumulated depreciation. 4. Loan balances and finance costs are recorded over three years. The non-current loan liability at the end of the period was $200,060,000.

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    qn 83

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    1. The company recorded a $300,000 revenue adjustment and $15,000 in finance costs on a loan. 2. $3,000,000 was spent on research expenses and $4,800,000 was capitalized as a non-current asset for research and development. 3. Property was revalued, resulting in a $2,400,000 gain recorded in other comprehensive income. Plant and equipment are recorded at cost less accumulated depreciation. 4. Loan balances and finance costs are recorded over three years. The non-current loan liability at the end of the period was $200,060,000.

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    10 views3 pages

    QN 83

    Uploaded by

    MR.diwash Pokhrel
    1. The company recorded a $300,000 revenue adjustment and $15,000 in finance costs on a loan. 2. $3,000,000 was spent on research expenses and $4,800,000 was capitalized as a non-current asset for research and development. 3. Property was revalued, resulting in a $2,400,000 gain recorded in other comprehensive income. Plant and equipment are recorded at cost less accumulated depreciation. 4. Loan balances and finance costs are recorded over three years. The non-current loan liability at the end of the period was $200,060,000.

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    of 3

    w.

    1 revenue $,000
    correction dr inventory 2000
    cr revenue 300
    finance cost on loan 15

    w.2 research and


    development $,000

    research expenses 3000 cos


    capitalize cost 4800 sofp

    w.3 Non current asset


    property $,000
    property at 1july 20X4 28500
    depreciation at 30june 20X5 1900 cos
    property at 30june 20X5 26600
    property at fv at 30june20X5 29000 sofp
    revaluation gain 2400 oci

    plant and equipment

    plant and equipment at cost 27100


    accumulated depreciation 9100
    depreciation at 30june 20x5 2700 cos
    cv at 30 june 20X5 15300
    w.4 loan note

    year b/f finance cost cash paid


    30june 20X5 19500 1560 1000
    30june 20X6 20060 1604.8 1000
    30june 20X7 20664.8 1653.184 21000

    finance cost at 30june 20x5 1560


    non current libility at 30 june 20X5 20060

    w.5 financial asset


    $,000
    financial asset equity at FV at july 20x4 8800
    financial asset equity at FV at 30june 20X5 9600
    gain in investment 800

    w.6 taxation $,000


    current year tax provision 1200
    increase in defferd tax 800
    tax charge for year 2000 pl

    w.7 dividend $,000


    equuity share at 1july 20x4 30000
    right share iddue 10000
    total no of share 40000
    issue at market value 1.7
    share premium 7000

    dividend paid 800


    c/f
    20060
    20664.8
    1317.984

    pl

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