Please help with question b statement of changes in equity

- Financial Accounting 3 Assignment 4.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Financial Accountin... X Sign In 2 / 6 75% IAS To Share The trial balance for By Fire BY Force Ltd at 31 March 2019 was as follows: Search Combine PDF N$'000 NS'000 124,900 94,000 Export PDF Edit PDF 9,060 16.020 121 Create PDF 1,200 639 Comment 50,300 3,720 Combine Files 6,060 1,670 El Organize Pages Sales Cost of goods manufactured in year to 31 March 2019(excluding depreciation) Distribution costs Administrative expenses Restructuring costs Interest received Loan note interest paid Land and buildings(including land N$20,000,000) Plant & equipment Accumulated depreciation at 31 March 2018: Buildings Plant and Equipment Investment properties ( at market value) Inventories at 31 March 2018 Trade receivables Bank and Cash Ordinary shares of N$1 each, fully paid Share premium Revaluation surplus Retained earnings at 31 March 2018 Ordinary dividends paid 7% loan notes 2023 Trade payables Proceede of share icello O Redact 24,000 4852 9,330 1,190 Protect 20,000 430 3,125 28,077 Create, edit and sign PDF forms & agreements 100 Start Free Trial 18,250 8,120 2000 H Search for anything e o XM Desktop 12:11 PM 6/23/2020 - x Financial Accounting 3 Assignment 4.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Financial Accountin... X Sign In 1 3 / 6 75% IAS To Share Tlaue payadies Proceeds of share issue O, IZU 2,400 214.232 Search Combine PDF 214.232 Export PDF 2 Edit PDF Create PDF Comment Combine Files El Organize Pages Redact III. Additional information provided: i. The property, plant and equipment are being depreciated as follows: Buildings 5% per annum straight line Plant and equipment 25% per annum reducing balance Depreciation of buildings is considered an administrative cost while depreciation of plant and equipment should be treated as a cost of sale II. On 31 March 2019 the land was revalued to N$24,000,000 Income tax for the year to 31 March 2019 is estimated at N$976,000. Ignore deferred tax. iv. The closing inventories at 31 March 2019 were N$5,180,000. An inspection of finished goods found that a production machine had been set up incorrectly and that several production batches, which had cost N$50,000 to manufacture, had the wrong packaging. The goods cannot be sold in this condition but could be repacked at an additional cost of N$20,000. They could then be sold for N$55,000. The wrongly packaged goods were included in closing inventories at their cost of N$50,000. The 7% loan notes are 10 year loans due for repayment by 31 March 2023. Interest on these loans needs to be accrued for the six months to 31 March 2019. vi. The restructuring costs in the trial balance represent the cost of a major restructuring Protect Create, edit and sign PDF forms & agreements V Start Free Trial H Search for anything e XM Desktop A)) 12:12 PM 6/23/2020 - x Financial Accounting 3 Assignment 4.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Financial Accountin... X Sign In 1 3 / 6 75% To Share Search Combine PDF Export PDF V. several production batches, which had cost N$50,000 to manufacture, had the wrong packaging. The goods cannot be sold in this condition but could be repacked at an additional cost of N$20,000. They could then be sold for N$55,000. The wrongly packaged goods were included in closing inventories at their cost of N$50,000. The 7% loan notes are 10 year loans due for repayment by 31 March 2023. Interest on these loans needs to be accrued for the six months to 31 March 2019. The restructuring costs in the trial balance represent the cost of a major restructuring of the company to improve competitiveness and future profitability No fair value adjustments were necessary to the investment properties during the period. During the year the company issued 2 million new ordinary shares for cash at N$1.20 per share. The proceeds have been recorded as 'Proceeds of share issue' Edit PDF vi. Create PDF vii. Comment viii. Combine Files El Organize Pages You are required to prepare: a. The statement of profit or loss and other comprehensive income for By Fire By Force Ltd for the year ended 31 March 2019. (11) b. The statement of changes in equity for By Fire By Force Ltd for the year ended 31 March 2019. (7) C. A statement of financial position as at 31 March 2019. (8) Redact Protect Notes to the financial statements are not required, but all workings must be clearly shown. Workings carry additional 9 marks. Create, edit and sign PDF forms & agreements Start Free Trial H Search for anything e XM Desktop A)) 12:12 PM 6/23/2020 - Financial Accounting 3 Assignment 4.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Financial Accountin... X Sign In 2 / 6 75% IAS To Share The trial balance for By Fire BY Force Ltd at 31 March 2019 was as follows: Search Combine PDF N$'000 NS'000 124,900 94,000 Export PDF Edit PDF 9,060 16.020 121 Create PDF 1,200 639 Comment 50,300 3,720 Combine Files 6,060 1,670 El Organize Pages Sales Cost of goods manufactured in year to 31 March 2019(excluding depreciation) Distribution costs Administrative expenses Restructuring costs Interest received Loan note interest paid Land and buildings(including land N$20,000,000) Plant & equipment Accumulated depreciation at 31 March 2018: Buildings Plant and Equipment Investment properties ( at market value) Inventories at 31 March 2018 Trade receivables Bank and Cash Ordinary shares of N$1 each, fully paid Share premium Revaluation surplus Retained earnings at 31 March 2018 Ordinary dividends paid 7% loan notes 2023 Trade payables Proceede of share icello O Redact 24,000 4852 9,330 1,190 Protect 20,000 430 3,125 28,077 Create, edit and sign PDF forms & agreements 100 Start Free Trial 18,250 8,120 2000 H Search for anything e o XM Desktop 12:11 PM 6/23/2020 - x Financial Accounting 3 Assignment 4.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Financial Accountin... X Sign In 1 3 / 6 75% IAS To Share Tlaue payadies Proceeds of share issue O, IZU 2,400 214.232 Search Combine PDF 214.232 Export PDF 2 Edit PDF Create PDF Comment Combine Files El Organize Pages Redact III. Additional information provided: i. The property, plant and equipment are being depreciated as follows: Buildings 5% per annum straight line Plant and equipment 25% per annum reducing balance Depreciation of buildings is considered an administrative cost while depreciation of plant and equipment should be treated as a cost of sale II. On 31 March 2019 the land was revalued to N$24,000,000 Income tax for the year to 31 March 2019 is estimated at N$976,000. Ignore deferred tax. iv. The closing inventories at 31 March 2019 were N$5,180,000. An inspection of finished goods found that a production machine had been set up incorrectly and that several production batches, which had cost N$50,000 to manufacture, had the wrong packaging. The goods cannot be sold in this condition but could be repacked at an additional cost of N$20,000. They could then be sold for N$55,000. The wrongly packaged goods were included in closing inventories at their cost of N$50,000. The 7% loan notes are 10 year loans due for repayment by 31 March 2023. Interest on these loans needs to be accrued for the six months to 31 March 2019. vi. The restructuring costs in the trial balance represent the cost of a major restructuring Protect Create, edit and sign PDF forms & agreements V Start Free Trial H Search for anything e XM Desktop A)) 12:12 PM 6/23/2020 - x Financial Accounting 3 Assignment 4.pdf - Adobe Acrobat Reader DC File Edit View Window Help Home Tools Financial Accountin... X Sign In 1 3 / 6 75% To Share Search Combine PDF Export PDF V. several production batches, which had cost N$50,000 to manufacture, had the wrong packaging. The goods cannot be sold in this condition but could be repacked at an additional cost of N$20,000. They could then be sold for N$55,000. The wrongly packaged goods were included in closing inventories at their cost of N$50,000. The 7% loan notes are 10 year loans due for repayment by 31 March 2023. Interest on these loans needs to be accrued for the six months to 31 March 2019. The restructuring costs in the trial balance represent the cost of a major restructuring of the company to improve competitiveness and future profitability No fair value adjustments were necessary to the investment properties during the period. During the year the company issued 2 million new ordinary shares for cash at N$1.20 per share. The proceeds have been recorded as 'Proceeds of share issue' Edit PDF vi. Create PDF vii. Comment viii. Combine Files El Organize Pages You are required to prepare: a. The statement of profit or loss and other comprehensive income for By Fire By Force Ltd for the year ended 31 March 2019. (11) b. The statement of changes in equity for By Fire By Force Ltd for the year ended 31 March 2019. (7) C. A statement of financial position as at 31 March 2019. (8) Redact Protect Notes to the financial statements are not required, but all workings must be clearly shown. Workings carry additional 9 marks. Create, edit and sign PDF forms & agreements Start Free Trial H Search for anything e XM Desktop A)) 12:12 PM 6/23/2020