Page 15 - Microsoft Word - 00 IWB ACCA F7.docx

Introduction to published accounts

Example 1 cont.

Notes

(i) Land included in property, plant and equipment at a carrying amount of
$15,000,000 is to be revalued at 31 December 20X2 to $20,000,000.

(ii) Depreciation of $11,250,000 is to be charged to cost of sales.

(iii) The tax charge in respect of the year to 31 December 20X2 is estimated
to be $2,290,000.

Required:

Prepare Grey’s statement of profit or loss and other comprehensive
income, statement of changes in equity and statement of financial
position for the year ended 31 December 20X2. (Use the blank pro-
formas provided and work to the nearest $000.)

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