4 HFAC130-1-Jul-Dec2022-FA1-GC-V2-28072022 4. The physical count concluded on 31 December 2021 revealed that inventory on hand had
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Question:
4 HFAC130-1-Jul-Dec2022-FA1-GC-V2-28072022
4. The physical count concluded on 31 December 2021 revealed that inventory on hand had a cost of R 401 200 and a net realizable value (NRV) of R395 300.
Required:
a) Prepare the general entries required to record each transaction on additional information point 3. (15 marks)
b) Prepare the statement of comprehensive income for Gabex Electronics for the year ended 31 December 2021. (10 marks)
c) Prepare the statement of financial position for Gabex Electronics as of 31 December 2021.
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
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