Como QUESTION ONE (a) .YIN-NTETI Ltd, a drug manufacturing firm depreintes it m. rv hi es or stru-gut line basis at 12.5% per annum. In 2019 it became clear that thre cit. be anc inethod at 20% per annum would have been more apr-. ate. Mo over an rro had been made in estimating zero scrape values for the vehicle The following are arculars ertaining ti the vehicles in the company's fleet. Reg. trati Par of Invoice price Cost of Registration & Cost of Initial nun er puhase Licensing Insurance. GH GH GH AK 1245 2015 8,000 1,600 800 AM 1640 2016 18,000 3,600 1,800 AM 1961 2016 21,600 4,320 2,160 ARA 480 2017 34,000 6,800 3,400 TRA 123 2018 36,600 7,320 3,660 At the beginning of 2018 vehicles AK 1245 was trades in for AR 957 for GH11,500 and AM 1640 had sold GH14,000. Prepare a statement showing by how much the company's profit before tax for each of the year 2015 to 2018 should be adjusted as a results of the change in depreciation policy. Assuming no change in the estimated of useful life. Calculate the estimated scrape value of the vehicles remaining in the fleet QUESTION ONE (b) Yinsongya and Yintomya (Yins) are Marketing and Human Resource Management practitioners respectively. They intend to accomplish their childhood dreams of owning the largest Shopping Mall in Africa to be located in Bolgatanga, and by name The-Yins Mall (TYM). In one of their businesses meetings at Tindanas Guest House, the following is the excerpt of their conversation. Yinsongya: My concern is about getting a competent person to handle the records keeping. Yintomya: You are right, you remind me of our struggle with accounting lessons during their Bachelor studies particularly, with the provisions for doubtful debts and depreciations. Yisongya: Provisions for doubtful debts and depreciations as we were made to believe are mere estimate and assumptions, which may or may not occur, and ever i those-nt ocr., they may be more or less or more than expectation. I did not under an with y are 1. Ostly additional information. Yintomya: I also remember, most of the time, s ecifically th fini ac Junts questions is mostly in two parts, the trial balance an the auditiona informa on part, which includes provisions for doubtful debts and der vau ns ther eve... wld occurrences. I wonder if that explains why the final acco ntnosti also has tv sections, the income statement and the statement of financ pos ti ns. Page 2 0 Como QUESTION ONE (a) .YIN-NTETI Ltd, a drug manufacturing firm depreintes it m. rv hi es or stru-gut line basis at 12.5% per annum. In 2019 it became clear that thre cit. be anc inethod at 20% per annum would have been more apr-. ate. Mo over an rro had been made in estimating zero scrape values for the vehicle The following are arculars ertaining ti the vehicles in the company's fleet. Reg. trati Par of Invoice price Cost of Registration & Cost of Initial nun er puhase Licensing Insurance. GH GH GH AK 1245 2015 8,000 1,600 800 AM 1640 2016 18,000 3,600 1,800 AM 1961 2016 21,600 4,320 2,160 ARA 480 2017 34,000 6,800 3,400 TRA 123 2018 36,600 7,320 3,660 At the beginning of 2018 vehicles AK 1245 was trades in for AR 957 for GH11,500 and AM 1640 had sold GH14,000. Prepare a statement showing by how much the company's profit before tax for each of the year 2015 to 2018 should be adjusted as a results of the change in depreciation policy. Assuming no change in the estimated of useful life. Calculate the estimated scrape value of the vehicles remaining in the fleet QUESTION ONE (b) Yinsongya and Yintomya (Yins) are Marketing and Human Resource Management practitioners respectively. They intend to accomplish their childhood dreams of owning the largest Shopping Mall in Africa to be located in Bolgatanga, and by name The-Yins Mall (TYM). In one of their businesses meetings at Tindanas Guest House, the following is the excerpt of their conversation. Yinsongya: My concern is about getting a competent person to handle the records keeping. Yintomya: You are right, you remind me of our struggle with accounting lessons during their Bachelor studies particularly, with the provisions for doubtful debts and depreciations. Yisongya: Provisions for doubtful debts and depreciations as we were made to believe are mere estimate and assumptions, which may or may not occur, and ever i those-nt ocr., they may be more or less or more than expectation. I did not under an with y are 1. Ostly additional information. Yintomya: I also remember, most of the time, s ecifically th fini ac Junts questions is mostly in two parts, the trial balance an the auditiona informa on part, which includes provisions for doubtful debts and der vau ns ther eve... wld occurrences. I wonder if that explains why the final acco ntnosti also has tv sections, the income statement and the statement of financ pos ti ns. Page 2 0
