Question: Choose whether each item below is reported in: the statement of financial position profit or loss in the statement of profit or loss and other

Choose whether each item below is reported in:

the statement of financial position

profit or loss in the statement of profit or loss and other comprehensive income

other comprehensive income in the statement of profit or loss and other comprehensive income

the statement of changes in equity

the notes to the financial statements.

(5 Marks)

Gain on revaluation of equipment - OCI

 Answer 1Choose...the notes to the financial statements.the statement of changes in equityother comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial position

Finance costs

 Answer 2Choose...the notes to the financial statements.the statement of changes in equityother comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial position

Cost of Goods Sold

 Answer 3Choose...the notes to the financial statements.the statement of changes in equityother comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial position

Deferred tax asset

 Answer 4Choose...the notes to the financial statements.the statement of changes in equityother comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial position

Transfer from retained earnings to general reserve

 Answer 5Choose...the notes to the financial statements.the statement of changes in equityother comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial position

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