FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1.) Prepare statement of Comprehensive Income from the
information given below of ABC SAOC for the year ended
31st December 2018:
Sales Revenue
Cost of sales
Gross profit
Other income
Salaries and other employee related costs
General and administrative expenses
Selling and distribution expenses
Net finance costs
Taxation
Fair value gain on financial assets
Unrealized holding loss
classified as available for sale
38,277,238
27,721,482
10,555,756
199,882
4,260,314
970,694
4,519,766
24,450
263,382
394,898
Investments
on
59,236
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Transcribed Image Text:1.) Prepare statement of Comprehensive Income from the information given below of ABC SAOC for the year ended 31st December 2018: Sales Revenue Cost of sales Gross profit Other income Salaries and other employee related costs General and administrative expenses Selling and distribution expenses Net finance costs Taxation Fair value gain on financial assets Unrealized holding loss classified as available for sale 38,277,238 27,721,482 10,555,756 199,882 4,260,314 970,694 4,519,766 24,450 263,382 394,898 Investments on 59,236
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