The following trial balance is available for Wiggins SA as at 31 December 20×3. ?000 ?000 Issued…

The following trial balance is available for Wiggins SA as at 31 December 20×3. ?000 ?000 Issued…
The following trial balance is available for Wiggins SA as at 31 December 20×3.   ₵000 ₵000 Issued share capital   17,250 Retained earnings   57,500 10% long-term loan (20×9)   63,250 Bank overdraft   6,325 Trade payables   30,650 Accumulated depreciation – vehicles   9,200 Accumulated depreciation – buildings   2,300 Accumulated depreciation – equipment   3,450 Freehold land 57,500   Freehold buildings 57,500   Equipment 14,950   Motor vehicles 20,700   Inventory at 1 Jan 20×3 43,125   Trade receivables 28,750   Cash in hand 4,600   Purchases 258,750   Bank interest 1,150   Dividends 1,725   Interest on loan 6,325   Insurance 5,290   Salaries and wages 20,355   Motor expenses 9,200   Taxation that was under provided 750   Light, power, miscellaneous 4,255   Sales   345,000   534,925 534,925   The following information relating to accruals and prepayments has not yet been taken into account in the amounts shown in the trial balance: i. Inventory valued at cost at 31 December 20×3 was ₵25,875,000. ii. Depreciation is to be provided as follows: a. 2% on freehold buildings using the straight-line method. b. 10% on equipment using the reducing balance method. c. 25% on motor vehicles using the reducing balance method. iii. ₵2,300,000 was prepaid for light, power, and miscellaneous expenses and ₵5,175,000 has accrued for wages. iv. Freehold land was revalued on 31 December 20X3 at ₵77,500,000, resulting in a gain of ₵20,000,000. v. Assume income tax at 20% of pre-tax profit. vi. 1,500 shares had been issued on 1 January 20X3 at ₵1.50 each.   Required: A. Prepare for the year ended 31 December 20×3 the statement of comprehensive income, the statement of changes in equity, and the statement of financial position. (32 marks)   B. IAS 1 Presentation of Financial Statements requires ‘other comprehensive income’ items to be included in the statement of comprehensive income, and it also requires a statement of changes in equity. Explain the need for publishing this information and identify the items you would include in them. May 16 2022 03:13 PM

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Open chat
1
You can contact our live agent via WhatsApp! Via + 1 (409) 205-8984

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 30% with the discount code GURUH