Seminar 2

Question 1

Required:
Prepare extracts of the financial statements to show the effect of the above transactions.

Answer 1

Question 2

Show the accounting treatment for the above transactions of:

(a) A payment of SWK 286,000 is made on 16 November 2024.
(b) The amount owed remains outstanding at the year-end date.

Answer 2

Question 3

What is the income tax expense that will be shown in the statement of profit or loss for the year?

Answer 3

Question 4

What is the tax charge for taxation that will appear in the statement of profit or loss for the year to 30 June 2024?

Answer 4

Question 5

Calculate basic EPS for the year ended 31 December 2025 and the basic EPS for the year ended 31 December 2024, as restated in the 31 December 2025 financial statements.

Answer 5