A

ADJUSTED PROFIT

DRAFT PROFIT 2250

LESS LOAN NOTE INTERST -135

LESS DEPRECIATION -720

LESS REVALUATION -480

INVENTORY 390

CONTRACT RECOGISED PROFIT 2000

ADJUSTED PROFIT 3305

B
STATEMENT OF CHANGE IN EQUITY 31 DEC 20X7

SHARE RVALUATION
SHARE CAPITAL PREMIUM SURPLUS

OPENING 20000 3000 800

BONUS ISSUE 4000 -3000

ADJUSTED PROFIT

DIVIDEND PAID

REVALUATION -800

CONVERTIBLE LOAN NOTES

24000 0 0

JOURNAL ENTRY FOR BONUS ISSUE

DR SHARE PREMIIUM 3000

DR RETAINED EARNIGS 1000

CR SHARE CAPITAL 4000

C
SOFP AS AT 31 DEC 20X7
ASSETS

NON CURRENT ASSETS

PROPERTY 16000

CUURENT ASSETS

INVENTORY 4700

TRADE RECEIVABLE 5510

CONTRACT ASSETS 2500

CASH 10320

TOTAL ASSETS 39030

EQUITIES AND LIABILITY

SHARE CAPITAL 24000

SHARE PREMIUM 0

RVALUATION SURPLUS 0

RETAINED EARNINGS 4955

EQUITY LOAN NOTES 425

NON CUURENT LIABILITY

CONVERTIBLE LOAN NOTES 7710

CURRENT LIABILITY 1940

39030 0
 working

WN01 LOAN NOTE $000S

LOAN NOES 8000

LIABILITY COMPONENT (INITAL)

YR
DF @6
1 320 0.943
2 320 0.89
3 320 0.84
3 8000 0.84

LIABILITY COMPONENT (INITAL)

EQUITY COMPONENT 425 SOCE

LIABILITY COMPONENT (YEAAR END)

OTHER
COMPON
RETAINED NETS OF
EARNINGS EQUITY
01/01/X7 INITIAL LIABILITY COMPONENT 7575
6270
31/12/X7 EFFECTVE INTEREST RATE 455
-1000
31/12/X7 LESS INTREST PAID -320
3305
LIABILITY COMPONENT (YEAAR END) 7710 SOFP NON CUURENT LLIABILITY
-3620
ONLY INTEREST PAID of $320 has been
included in finance cost.

amount to be included is $455

425
hence amount to be reduced from profit 135 reduce from profit
4955 425

WN0 2 CONTRACT
 CONTRACT ASSETS

COST TO DATE 1900

ADD RECOGNISED PROFIT /(LOSS) 2000

LESS AMOUNT INVOICED -1400

CONTRACT ASSETS 2500 SOFP- ASSETS

RECOGNISED PROFIT
REVENU 5600

LESS COS -3600

RECOGNISED PROFIT 2000 DRAFT PROFIT ADD

WN03 NON CURRENT ASSETS

01/01/X7 CA 18000

31/12/X7 DEPRECIATION -720 LESS DRAFT ADJUSTED PROFF

31/12/X7 CA 17280

31/12/X7 FV 16000

31/12/X7 REVALUATION DEFICT 1280

DR REVALUATION SURPLUS 800

DR SOPL 480 LESS DRAFT PROFIT

CR PROPERTY 1280

(PREVIOUSLY UPWARD REVALUED

ASSET ,REVALUED DWNWARS)

WN.4 INEVENTORY 390 ADD DRAFT PROFIT

 PV
301.76
284.8
268.8
6720

7575

SOFP NON CUURENT LLIABILITY

reduce from profit

SOFP- ASSETS

DRAFT PROFIT ADD

LESS DRAFT ADJUSTED PROFFIT

LESS DRAFT PROFIT

ADD DRAFT PROFIT