A company Alfa uses IFRS. Below there are presented transactions, which appeared in December 2018. All...

 

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A company Alfa uses IFRS. Below there are presented transactions, which appeared in December 2018. All transactions omit VAT, so you do not take VAT into consideration. 1. Sold some merchandise goods at 1055'000 PLN. A full amount was paid. The book value of items sold was 775'000 PLN. 2. Purchased a new machine, which is to be used in production process at 34'000 PLN (amount paid). The machine was taken into active use. 3. Accrued salaries of: - production employees 32'000 PLN. - sale representatives 24'000 PLN, - administration employees 37'000 PLN. 4. Received an invoice for the energy used in the month - amount of 17'000 PLN. There calculated that 39% of energy was used in production process, the rest for administration. 5. The sale representatives used petrol worth 52'000 PLN. 6. Received invoice for delivery of merchandise goods to clients - amount of 25'000 PLN. 7. Used up commodity in production process (new production machinery is used) - amount 16'000 PLN 8. Revalued some items of PPE under the revaluation model - increase of value (change in fair value) was 25'000 PLN 9. Calculated amortisation charge for software (ERP system) - amount of 13'000 PLN 10. Bought 290 merchandise goods at (price) per unit (goods were taken to warehouse, the price was paid). 11. Recognised impairment loss for intangible item (software) - amount 21'000 PLN. Calculate profit or loss before taxation. The answer round up to full PLN (do not use commas, dots, apostrophes, currency etc). If the result is negative (the company incurred loss) - enter the negative amount (with minus). A company Alfa uses IFRS. Below there are presented transactions, which appeared in December 2018. All transactions omit VAT, so you do not take VAT into consideration. 1. Sold some merchandise goods at 1055'000 PLN. A full amount was paid. The book value of items sold was 775'000 PLN. 2. Purchased a new machine, which is to be used in production process at 34'000 PLN (amount paid). The machine was taken into active use. 3. Accrued salaries of: - production employees 32'000 PLN. - sale representatives 24'000 PLN, - administration employees 37'000 PLN. 4. Received an invoice for the energy used in the month - amount of 17'000 PLN. There calculated that 39% of energy was used in production process, the rest for administration. 5. The sale representatives used petrol worth 52'000 PLN. 6. Received invoice for delivery of merchandise goods to clients - amount of 25'000 PLN. 7. Used up commodity in production process (new production machinery is used) - amount 16'000 PLN 8. Revalued some items of PPE under the revaluation model - increase of value (change in fair value) was 25'000 PLN 9. Calculated amortisation charge for software (ERP system) - amount of 13'000 PLN 10. Bought 290 merchandise goods at (price) per unit (goods were taken to warehouse, the price was paid). 11. Recognised impairment loss for intangible item (software) - amount 21'000 PLN. Calculate profit or loss before taxation. The answer round up to full PLN (do not use commas, dots, apostrophes, currency etc). If the result is negative (the company incurred loss) - enter the negative amount (with minus).

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Here is the calculation of profit or loss before taxation for Alfa based on the given transactions R... View the full answer