Required:

1. Show your calculations for the Adjustments for points (i) - (iv)
2. Prepare a Table of Expenses to be included in the Financial Statements
3. Prepare Depreciation table to be included in the Financial Statements
4. Prepare Statement of Comprehensive Income
5. Prepare a Statement of Changes in Equity
6. Prepare a Statement of Financial Position

ACCUMA4-PRACIICE QUESTION (2) Belnw ic the draft trial halanre fine Sanchure nle far the wnar anded 31 Deremher 2023 : The following additional information has not yet been taken into account: (i) Inventory at cost as at 31st December 2022 was f103,500,000 (the cost has been reviewed and is lower than NRV for all items of inventory) (ii) Depreciation is to be provided as follows: 5% on freehold buildings using the straight-line method. 20% on eguipment using the reducing balance method. 25% on motor vehicles using reducing balance method. (iii) 19,200,000 was prepaid for repairs. (iv) The total wages bill for the year is 592,920,000. (v) Additional information/assumptions for analysing and allocating costs and expenses is as follows: Breakdown of Salaries and Woges: Factery assembly staff ca6,000,000 Factery supervisors e2,300,000 Warehouse staff 18,400,000 Accounts department 2,300,000 Drivers 14,720,000 Salesperson's salaries 9,200,000 Degreciation with respect to Frechold bulldings and Equipment relates to 5046 for production, 25% to Distribution and 25% to Administration. The motor vehicles are used only for distribution purposes. Operating expenses (repairs and maintenance, hire charges, and miscellaneous expenses) relate to 50% production, 25\% to Distribution and 25\% to Administration (on the basis of space occupied by each function). Directors spend half their time on production and half their bime on administration. The following additional information has not yet been taken into account: (1) Inventory at cost as at 31st December 2022 was 1103,500,000 (the cost has been reviewed and is lower than NRV for all items of inventory) (ii) Depreciation is to be provided as follows: 5% on freehold buildings using the straight-line method. 20% on equipment using the reducing balance method. 25% on motor vehicies using reducing balance method. (iii) f9,200,000 was prepald for repairs. (iv) The total wages bill for the year is 692,920,000. (v) Additional information/assumptions for analysing and allocating costs and expenses is as follows: Breakdown of Salaries and Wages: Factory assembly staff 446,000,000 Factory supervisors E2,300,000 Warehouse staff 18,400,000 Accounts department 52,300,000 Drivers 14,720,000 Salespersan's salaries 9,200,000 Depreciation with respect to Freehold buildings and Equipment relates to 50% for production, 25% to Distribution and 25% to Administration. The motor vehicles are used anly for distribution purposes. Operating expenses (repairs and maintenance, hire charges, and miscellaneous eapenses) relate to 50 s. production, 25% to Distribution and 25% to Administration (on the basis of space occupied by each function). Directors spend half their time on production and half their time on administration. ACCUMA4-PRACIICE QUESTION (2) Belnw ic the draft trial halanre fine Sanchure nle far the wnar anded 31 Deremher 2023 : The following additional information has not yet been taken into account: (i) Inventory at cost as at 31st December 2022 was f103,500,000 (the cost has been reviewed and is lower than NRV for all items of inventory) (ii) Depreciation is to be provided as follows: 5% on freehold buildings using the straight-line method. 20% on eguipment using the reducing balance method. 25% on motor vehicles using reducing balance method. (iii) 19,200,000 was prepaid for repairs. (iv) The total wages bill for the year is 592,920,000. (v) Additional information/assumptions for analysing and allocating costs and expenses is as follows: Breakdown of Salaries and Woges: Factery assembly staff ca6,000,000 Factery supervisors e2,300,000 Warehouse staff 18,400,000 Accounts department 2,300,000 Drivers 14,720,000 Salesperson's salaries 9,200,000 Degreciation with respect to Frechold bulldings and Equipment relates to 5046 for production, 25% to Distribution and 25% to Administration. The motor vehicles are used only for distribution purposes. Operating expenses (repairs and maintenance, hire charges, and miscellaneous expenses) relate to 50% production, 25\% to Distribution and 25\% to Administration (on the basis of space occupied by each function). Directors spend half their time on production and half their bime on administration. The following additional information has not yet been taken into account: (1) Inventory at cost as at 31st December 2022 was 1103,500,000 (the cost has been reviewed and is lower than NRV for all items of inventory) (ii) Depreciation is to be provided as follows: 5% on freehold buildings using the straight-line method. 20% on equipment using the reducing balance method. 25% on motor vehicies using reducing balance method. (iii) f9,200,000 was prepald for repairs. (iv) The total wages bill for the year is 692,920,000. (v) Additional information/assumptions for analysing and allocating costs and expenses is as follows: Breakdown of Salaries and Wages: Factory assembly staff 446,000,000 Factory supervisors E2,300,000 Warehouse staff 18,400,000 Accounts department 52,300,000 Drivers 14,720,000 Salespersan's salaries 9,200,000 Depreciation with respect to Freehold buildings and Equipment relates to 50% for production, 25% to Distribution and 25% to Administration. The motor vehicles are used anly for distribution purposes. Operating expenses (repairs and maintenance, hire charges, and miscellaneous eapenses) relate to 50 s. production, 25% to Distribution and 25% to Administration (on the basis of space occupied by each function). Directors spend half their time on production and half their time on administration