From the following requireds, what i Question
Kokomo
From the following requireds, what is your understanding of what is being asked of you and how would you answer each of the questions:
a) Calculate the amount of the insurance claim that will probably be paid by the insurer on XXX.
b) Calculate the profit for the year for the reporting period ended XXX after taking the abovementioned information into consideration.
c) Present the information in the Statement of Changes in Equity for the reporting period ended XXX after taking the abovementioned information into consideration.
d) Critically Evaluate/ Critically Discuss
e) Criticise the Profit before tax Note
f) Present only the following line-items in the CURRENT LIABILITIES section of the Statement of Financial Position after taking the abovementioned information into consideration. The disclosure of other notes to the financial statements are not required.
• Trade and other payables
• Current portion of lease liabilities
• Shareholders for dividends
• Short-term provisions
g) Present only the column ORDINARY SHARE CAPITAL in the Statement of Changes
in Equity for the reporting period ended XXX after taking the abovementioned
information into consideration.
h) Discuss the measurement of revenue. In your discussion, refer to the
relevant steps in the Revenue Model.
i) Provide the journal entries in relation to the above transactions for the years ended
31 December 2021 and 31 December 2022. Dates are required but journal narrations
are not required.