QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20X8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20X8- Statement of Comprehensive Income for the year ended 30th June 2008- Other information: Transaction costs for the share issue made during 20X7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20x8. 9 marks BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20X8- $ 20X7 $- 20X8 IN THOUSANDS OF DOLLARS ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 277 352 6884 380- 1,420 NON CURRENT ASSETS Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1,604 560- 511 52 320- 1,443 2,863 42 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 83 36 161 794 1834 24 286- NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 385 546 2134 260 473 759 NET ASSETS 1,058 2.104 OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1.058 426 257 1,421 2.104 STATEMENT OF PROFIT OR LOSS FOR STATUS QUAD LTDA FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS Revenue Cost of sales Gross Profit Other income Selling and distribution expenses Administrative expenses Other expenses 4,075 (1,171 2,904 1112 (1,091) (456) (472) (1,908) 996 18- (29) (11) 985 (183) 802 Results from operating activities Finance income Finance costs Net finance income Profit before income tax Income tax Profit attributable to Status Quad Ltd STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD TICUM Lda Profit attributable to Status Quad Ltd (183) 8024 STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 802 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners 964 (17) 794 8816 Complete this Template STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20x8. IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL GENERAL RESERVE FOREIGN CURRENCY TRANSLATION RESERVE ASSET REVALUATION SURPLUS RESERVE RETAINED TOTAL PROFITS EQUITY Balance at 1 July 20x7 P] H a Total Comprehensive Income for periode Profit for periode H a P] H] 11 H el Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current asset Total Comprehensive Income for period H El H1 E H El el Sub-totale H Pl P Transactions with owners recorded directly in equity A [] - el H A ] H] -] El Transfer to General Reserved Issue of ordinary shares Transaction costs for share issue Total transactions with owners recorded directly in equity Balance ate 30th June 20x8 H] H] 4782 (52) 6 1422 1092 1,4212 2,1042 QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20x8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20x8- Statement of Comprehensive Income for the year ended 30th June 20x84 Other information: Transaction costs for the share issue made during 20x7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20x8. 9 marks BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20x8 $ $e 20x8 IN THOUSANDS OF DOLLARS 20X7 ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 352 688 380 1,420 277 NON CURRENT ASSETS Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1,604 560 5112 52 320 1,443 2,863 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 79 183 24 286 TOTAL CURRENT LIABILITIES 161 286 NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 385 213 260 473 759 546 NET ASSETS 1,058 2,104 OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1,058 426 257 1,421 2.104 STATEMENT OF PROFIT OR LOSS FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 IN THOUSANDS OF DOLLARS Revenue Cost of sales Gross Profit Other income Selling and distribution expenses Administrative expenses Other expenses 4,075 (1,171) 2,904- 1114 (1,091) (456) (472) (1,908) 996 18 (29) (11) 985- (183) 802 Results from operating activities Finance income Finance costs Net finance income Profit before income tax Income tax Profit attributable to Status Quad Ltd tt STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 802 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners 96 (17) 79 881 Complete this Template STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD- FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL FOREIGN CURRENCY TRANSLATION RESERVE GENERAL ASSET RESERVE REVALUATION SURPLUS RESERVE RETAINED TOTAL PROFITS EQUITY Balance at 19 July 20x7 Il El H Total Comprehensive Income for periode Profit for periode Pl P El el El Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current asset Total Comprehensive Income for periode A 19 Sub-totale A El pl