The trial balance of Sabrina plc includes the following accounts as at 30 September 2010: Additional information:
Question:
The trial balance of Sabrina plc includes the following accounts as at 30 September 2010:
Additional information:
• The loss on valuation of available-for-sale investments recognised directly in equity was EUR 2,000 net of taxes.
• Sabrina plc uses the single statement format for the statement of comprehensive income.
Assume you are the accountant of Sabrina plc, responsible for the preparation of the statement of comprehensive income of the company for the year ended 30 September 2010. The company classifies expenses by function.
Prepare the statement of comprehensive income of Sabrina plc, showing the analysis of expenses in the statement of comprehensive income.
2,400,000 48,000 10,000 40,000 10,000 1,680,000 36,000 Interest expense Selling, distribution and administrative expenses 222,000 Tax expense 170,000 Sales revenue . Interest income Gain on disposal of PPE Valuation gain on trading investments Dividends revenue Cost of sales
Step by Step Answer:
To prepare the statement of comprehensive income for Sabrina plc we will use the single statement fo...View the full answer
Advanced Financial Accounting An International Approach
ISBN: 9780273712749
1st Edition
Authors: Jagdish Kothari, Elisabetta Barone
Students also viewed these Business questions
-
Sydney Ltd, commenced retail operations on 1 July 2019 by issuing 1,000,000 shares at @ $1.00 per share, payable in full on application. Company sales designer's leather bags to customers. There were...
-
The Bigfork Company is a retail company that began operations on January 1,2018. The Bigfork Company is authorized to issue 1,000,000 shares of P10 par value ordinary share and 500,000 shares of 3%,...
-
a) NZ IAS 1 requires the reporting entity to disclose in notes the accounting policies used in preparing the financial statements. Required: Briefly explain the rationale of this requirement. (4...
-
Burger Doodle is a fast-food restaurant that processes an average of 680 food orders each day. The average cost of each order is $6.15. Four percent of the orders are incorrect, and only 10% of the...
-
A sound wave in air has a frequency of 262 Hz and travels with a speed of 343m/s. how far apart are the wave crests (compressions)?
-
Marsh Inc. originally purchased equipment on April 30, 2016, for $155,000. The salvage value is 13% of the purchase price. The company uses double declining depreciation, and the number of useful...
-
The 2015 annual report of The Procter & Gamble Company (P&G) is available at www.pginvestor.com. After reviewing P&Gs annual report, respond to the following questions: a. P&Gs 2015 statement of cash...
-
Two firms, U and L, are identical except for their capital structure. Both will earn $150 in a boom and $50 in a slump. There is a 50 percent chance of each event. U is entirely equity-financed, and...
-
A study of the atmospheric pollution on the slopes opf the Blue Ridge Mountains was conducted. The levels of lead found in 70 fern moss specimens (y; in micorgrams of lead per gram of moss tissue) is...
-
The equity section of the statement of financial position of Lorenzo pleas at 30 September 2010 is as follows (amounts in thousands of euro): Additional information: Lorenzo plc issued 16,000 shares...
-
Classification of assets and liabilities (a) Distinguish between current assets and non-current assets. (b) Distinguish between current liabilities and non-current liabilities. (c) Explain why these...
-
Java Masters is an employment exchange agency that has offices in Northern California. Java Masters operates as a broker that links its client companies with independent software experts (commonly...
-
Macmillan Learning 47.1% A ball of unknown mass m is tossed straight up with initial speed v. At the moment it released, the ball is a height h above a spring-mounted platform, as shown in the...
-
7) Two workers, Sam and Joe, carry a uniform beam of length 7.6m and weight 450N. Determine the force that each person exerts on the beam. In exercise n Sam 1 -1.00 m 7.60 m Joe -2.00 m-
-
Silver Company uses the indirect method to prepare its Statement of Cash Flows. Refer to the following information for 2025: The beginning balance in the Cash account was $31,000. Net cash provided...
-
Unit: Cost/Unit Amount July 1 Beginning inventory 5,040 $12.00 $60,480 4 Purchase 7,560 $12.50 94,500 8 Sale 7,560 14 Sale 1,890 22 Purchase 6,300 $12.75 80,325 28 Sale 4,410 All of the units sold...
-
Describe three benefits of the pre-referral process. List the six stages of the pre-referral process and briefly explain each of them. Why is it important to begin the initial team meeting with a...
-
The following data were taken from Mesa Companys balance sheet: a. Compute the ratio of liabilities to stockholders equity. b. Has the creditors risk increased or decreased from December 31, 2013, to...
-
Assume today is the 21st of February. Using the information below, FT Extract, answer the following questions (parts i and ii). You work for a US company that is due to receive 250 million in June...
-
Land Corporation acquired 100 percent of Growth Companys voting stock on January 1, 20X4, at underlying book value. Land uses the equity method in accounting for its ownership of Growth. On December...
-
Land Corporation acquired 100 percent of Growth Companys voting stock on January 1, 20X4, at underlying book value. Land uses the equity method in accounting for its ownership of Growth. On December...
-
Jefferson Company acquired all of Louis Corporations common shares on January 2, 20X3, for $789,000. At the date of combination, Louiss balance sheet appeared as follows: The fair values of all of...
-
Imagine a firm with the first year FCF of $50M. This firm's FCFs are expected to grow 8% per year until the end of year 4. Starting from year 5, the FCF growth rate will be 2% per year perpetually....
-
Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2022. In the process of setting up the business, Karane has acquired various types of assets. Below...
-
In this question you will be calculating two stock portfolio (META and AMZN) and (META and MS) weighted annual returns. Weights are: 100%, 90%, 80%, 70%, 60%, 50%, 40%, 30%, 20%, 10% and 0%. Note: if...
Study smarter with the SolutionInn App