The following information has been extracted from the accounting records of Pluto Ltd for the year ended
Fantastic news! We've Found the answer you've been seeking!
Question:
The following information has been extracted from the accounting records of Pluto Ltd for the
year ended 30 June 2017:
Debit
Credit
Sales
Dividends paid
Cost of sales
Finance costs
Distribution costs
Transfer from general reserve
Marketing costs
Administrative costs
Proceeds from sale of plant and machinery
Carrying amount of plant and machinery
$
10
000
1
072
000
40
000
116
000
54
000
104
000
40
000
$1
800
000
16
000
60
000
Required
Prepare a statement of profit or loss and other comprehensive income for Pluto Ltd, for the year
ended 30 June 2017, to comply with AASB 101 (classify expenses by function)
Expert Answer:
Posted Date:
