Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2 Following are the details of the fixed asset of Ps Ghana Limited as at 31 December 2021: During the year 2022, following transaction

image text in transcribed

Question 2 Following are the details of the fixed asset of Ps Ghana Limited as at 31 December 2021: During the year 2022, following transaction occurred: - Additional cost of GHS53,000 incurred on Building (WIP). A building costing GHS100,000 finished during this year. - A new high configuration-based computer system was requested during the year from IT department. Though, it was not acquired during the year, an advance deposit of GHS20,000 was paid. - New plant has been added costing GHS154,000 - During the year, GHS40,000 additions were made to fixtures. This excludes the deposit that was paid for the computer system as mentioned above. - During the year20X6, following disposals of fixed assets occurred: Required: Prepare the disclosure under IAS 16 for the year ended December 31, 2022. Question 2 Following are the details of the fixed asset of Ps Ghana Limited as at 31 December 2021: During the year 2022, following transaction occurred: - Additional cost of GHS53,000 incurred on Building (WIP). A building costing GHS100,000 finished during this year. - A new high configuration-based computer system was requested during the year from IT department. Though, it was not acquired during the year, an advance deposit of GHS20,000 was paid. - New plant has been added costing GHS154,000 - During the year, GHS40,000 additions were made to fixtures. This excludes the deposit that was paid for the computer system as mentioned above. - During the year20X6, following disposals of fixed assets occurred: Required: Prepare the disclosure under IAS 16 for the year ended December 31, 2022

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

The Taxpayers Rights Before During And After The Tax Audit In Cameroon

Authors: Salomon Malang II

1st Edition

6205877058, 978-6205877050

More Books

Students also viewed these Accounting questions