Following information is available for the year 2019 and 2020 of XYZ SAOG. You are...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Following information is available for the year 2019 and 2020 of XYZ SAOG. You are required to prepare Statement of comprehensive income and Statement of financial position.
2019
2020
Net finance charges
32516
22334
Taxation expense
818918
545790
Sales
41638212
42845900
Cost of sales
27672478
26212660
Other income
1001286
826020
Legal reserve
12777322
12415734
Retained earnings
3742920
5228032
Fair value reserve
243514
-65174
Salaries and other employee related costs
4554888
4278172
Unrealized gain on Fair value changes on available for sale investments
308688
2264658
Property, plant and equipment
35411014
38329456
Available for sale investments Long term
3188116
3150452
Non-current portion of held-to-maturity investments
3858778
5804256
Other Investments
0
1540800
Accounts and other payables
5607514
6086376
Taxation payable
668454
755446
Current portion of held-to-maturity investments
10930634
6000000
Inventories
10334502
8507048
Accounts and other receivables
18420298
14737064
General and administration
1101816
1126436
Selling and distribution
4842996
2698440
Bank balances and cash
2711782
7943244
Share capital
59242736
59242736
Employees end of service benefits
1729664
1593448
Deferred tax liability
816060
621030
Non-current portion of staff incentive
26940
134692
2. Following information is available for the year 2020 of ABC SAOG. You are required to
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!