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le 350,000 dance with 145 16, compute the relevent amounts to be included der had Statement and Statement of Financial pion for the yours
le 350,000 dance with 145 16, compute the relevent amounts to be included der had Statement and Statement of Financial pion for the yours de 12 De 2013, 2014 and 2015 Notes to the financial statements are not require QUESTION THREE MARKS GLM adopted IFRS from the beginning of year 2012. As a consequeno, G Lad chang accounting policy for the treatment of bonewing costs that are directy table the periods G Lad had charged such costs at an expense G Lad has now decided to capitalisthe costs, rather than treating them as an expone as alt of aging IAS 23 GLad expessed borrowing costs directly related to construction of qualifying met inced of 2,600 during 2011 and Git 5,000 in 2010 and G 4,000 in 2009 G Limited accounting for 2012 shers profit before tax of GHI 27,000 (after deducting GH 3,000 bemowing cos to qualifying assets). The income tax is GH 8,100 G Lad has not yet recognised any depreciation on the power station because it is not yet in use In 2011, G Limited reported Profit before interest and tax Interest expense (all on qualifying a Profit before tax Tax Profit GH 20,600 2.600 18,000 (5.400) 12.600 Year 2011 reported retained earnings was GH 20,000 and closing retained eamings was GH 32,600. G Lid's tax rate was 30% for 2012. 2011 and prior periods. G Lad had GH 10,000 of share capital throughout, and no other components of equity except for retained as Required: In accordance with IAS 8, how will treat the above adjustments in G Ltd's financial (10 Marks) statements. QUESTION FOURS The following is the trial balance of Kwadaso Ltd, a trading company, as at 30 September 2015: Debit Credit GH2000 GHC'000 Sales Inventory 68,865 3,150 Cost of sales 35,500 Selling & distribution expenses 5.600 Loan Noe est paid be property-1 Oct 2014 Plant and equipment-codeprecat Computer equipment cost depreciatio Motor vehicles-sdegation Trade receivables Bank Trade payables Deferred tax-1 Out 2014 500,000 Ordinary shar 1.340 110 340 14,000 11,750 3,200 7206 2000 1.300 400 8706 910 3,400 2300 14,500 2.500
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