Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i have stuck in this question. pls help. i need to build up income statement and balance sheet and change in equity. however i got

i have stuck in this question. pls help. i need to build up income statement and balance sheet and change in equity. however i got stuck in calculating cost of goods sold

image text in transcribed The summarised general ledger trial balance of Matthew Ltd, a manufacturing company, for the year ended 30 June 2016 is detailed below. Additional information (a) $20 000 of bank loans is repayable within 1 year. (b) $90 000 of other loans is repayable within 1 year. (c) Matthew Ltd uses the single statement format for the statement of profit or loss and other comprehensive income and presents an analysis of expenses by nature in the statement. Required: (1) Prepare the statement of financial position, statement of profit or loss and other comprehensive income and statement of changes in equity of Matthew Ltd for the year ended 30 June 2016 in accordance with the requirements of AASB 101/IAS 1. (2) Prepare relevant notes (explanations) to the financial statements according to comply with relevant accounting standards

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost-Benefit Analysis For Public Sector Decision Makers

Authors: Diana Fuguitt

1st Edition

1567202225, 9781567202229

More Books

Students also viewed these Accounting questions