QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20x8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20x8+ Statement of Comprehensive Income for the year ended 30th June 20X8- Other information: Transaction costs for the share issue made during 20x7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20x8. 9 marks BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20x8 $ IN THOUSANDS OF DOLLARS $ 20x8 20x7 ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 277 3524 688 380 1,420- NON CURRENT ASSETS- Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1.604 560 511 52 320- 1,443 2,863 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 794 183 244 286 NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 2134 2604 473 7594 385 546 NET ASSETS 1.058 2.104- OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1.058 426 257 1,421 2.104 STATEMENT OF PROFIT OR LOSS FOR STATUS QUAD LTD- FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS Revenue Cost of sales Gross Profit Other income Selling and distribution expenses Administrative expenses Other expenses 4,0754 (1,171) 2,904 1112 (1,091) (456) (472) 1.908) 996 184 (29) (11) 985 (183) 802 Results from operating activities Finance income Finance costs Net finance income Profit before income tax Income tax Profit attributable to Status Quad Ltd STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8- 802 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners 96 (17) 79 881 STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL GENERAL RESERVE RETAINED TOTAL PROFITS EQUITY FOREIGN CURRENCY TRANSLATION RESERVE 11 ASSET REVALUATION SURPLUS RESERVE Balance at 1st July 20X7 D] E] C ] Total Comprehensive Income for periode Profit for periode H] H 1) E] H] H E L 1) E] Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current asset Total Comprehensive Income for periode E] -] H] E] . 1 ] E] ale H E] - E] ] 1) E] 2 E] Transactions with owners recorded directly in equity- Transfer to E] ] General Reserved Issue of E] 1 ordinary shares Transaction costs for share E] issue Total transactions with owners recorded directly in equity Balance at 30th June 20x8 478 (52) 6 142 109 1.421 2.104 QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20X8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20X84 Statement of Comprehensive Income for the year ended 30th June 20X84 Other information: Transaction costs for the share issue made during 20x7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20x8. 9 marks TE BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20X84 $ $ 20x8 IN THOUSANDS OF DOLLARS 20x7 ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 277 352 688 3804 1,420 NON CURRENT ASSETS Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1,604 5604 511 52- 3204 1,443 2,863 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 79 1834 24- 286 NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 385 546 213 260- 473 759 NET ASSETS 1,058 2.104 OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1,058 426 257 1,421 2.104 STATEMENT OF PROFIT OR LOSS FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 IN THOUSANDS OF DOLLARS Revenue Cost of sales Gross Profit Other income Selling and distribution expenses Administrative expenses Other expenses 4,0754 (1,171) 2.9042 1112 (1,091) (456) (472) (1,908) 996 182 (29) (11) 985 (183) 8024 Results from operating activities Finance income Finance costs Net finance income Profit before income tax Income tax Profit attributable to Status Quad Ltd STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X84 8024 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners 96 (17) 79 881 Complete this Template STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL GENERAL RESERVE RETAINED PROFITS TOTAL EQUITY FOREIGN CURRENCY TRANSLATION RESERVE ASSET REVALUATION SURPLUS RESERVE Balance ate 1 July 20xze L Total Comprehensive Income for periode Profit for period el - H 1 I El H-1 el Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current asset Total Comprehensive Income for period el el A 2 el Sub-total H Transactions with owners recorded directly in equity H] ] El [-] [-] A [-] El - E] E] El El H] E] E Transfer to General Reserved Issue of ordinary sharese Transaction costs for share issuee Total transactions with owners recorded directly in equity Balance ate 30th June 20x8 E- E] H 4782 (52) 62 142 1092 1,4212 2,1042 QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20x8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20x8+ Statement of Comprehensive Income for the year ended 30th June 20X8- Other information: Transaction costs for the share issue made during 20x7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20x8. 9 marks BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20x8 $ IN THOUSANDS OF DOLLARS $ 20x8 20x7 ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 277 3524 688 380 1,420- NON CURRENT ASSETS- Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1.604 560 511 52 320- 1,443 2,863 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 794 183 244 286 NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 2134 2604 473 7594 385 546 NET ASSETS 1.058 2.104- OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1.058 426 257 1,421 2.104 STATEMENT OF PROFIT OR LOSS FOR STATUS QUAD LTD- FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS Revenue Cost of sales Gross Profit Other income Selling and distribution expenses Administrative expenses Other expenses 4,0754 (1,171) 2,904 1112 (1,091) (456) (472) 1.908) 996 184 (29) (11) 985 (183) 802 Results from operating activities Finance income Finance costs Net finance income Profit before income tax Income tax Profit attributable to Status Quad Ltd STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8- 802 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners 96 (17) 79 881 STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20x8 IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL GENERAL RESERVE RETAINED TOTAL PROFITS EQUITY FOREIGN CURRENCY TRANSLATION RESERVE 11 ASSET REVALUATION SURPLUS RESERVE Balance at 1st July 20X7 D] E] C ] Total Comprehensive Income for periode Profit for periode H] H 1) E] H] H E L 1) E] Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current asset Total Comprehensive Income for periode E] -] H] E] . 1 ] E] ale H E] - E] ] 1) E] 2 E] Transactions with owners recorded directly in equity- Transfer to E] ] General Reserved Issue of E] 1 ordinary shares Transaction costs for share E] issue Total transactions with owners recorded directly in equity Balance at 30th June 20x8 478 (52) 6 142 109 1.421 2.104 QUESTION 6 TOTAL 9 MARKS You are provided with the following financial statements for Status Quad Ltd. Balance Sheet as at 30th June 20X8 (with comparatives) Profit or Loss Statement for the year ended 30th June 20X84 Statement of Comprehensive Income for the year ended 30th June 20X84 Other information: Transaction costs for the share issue made during 20x7/X8 were $27,000 Required Use the information in the financial statements provided for Status Quad Ltd to complete the template, provided at the end of this question, for the Statement of Changes in Equity for the year ended 30th June 20x8. 9 marks TE BALANCE SHEET FOR STATUS QUAD LTD AS AT 30TH JUNE 20X84 $ $ 20x8 IN THOUSANDS OF DOLLARS 20x7 ASSETS CURRENT ASSETS Cash Inventories Accounts receivable (net) TOTAL CURRENT ASSETS 33 182 62 277 352 688 3804 1,420 NON CURRENT ASSETS Land Buildings (net) Machinery (net) Goodwill TOTAL NON CURRENT ASSETS TOTAL ASSETS 550 492 85 200 1,327 1,604 5604 511 52- 3204 1,443 2,863 LIABILITIES CURRENT LIABILITIES Accounts payable Income tax payable Provisions TOTAL CURRENT LIABILITIES 42 83 36 161 79 1834 24- 286 NON CURRENT LIABILITIES Loans Mortgages TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 225 160 385 546 213 260- 473 759 NET ASSETS 1,058 2.104 OWNERS' EQUITY Issued capital Reserves Retained profits TOTAL OWNERS' EQUITY 261 106 691 1,058 426 257 1,421 2.104 STATEMENT OF PROFIT OR LOSS FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 IN THOUSANDS OF DOLLARS Revenue Cost of sales Gross Profit Other income Selling and distribution expenses Administrative expenses Other expenses 4,0754 (1,171) 2.9042 1112 (1,091) (456) (472) (1,908) 996 182 (29) (11) 985 (183) 8024 Results from operating activities Finance income Finance costs Net finance income Profit before income tax Income tax Profit attributable to Status Quad Ltd STATEMENT OF COMPREHENSIVE INCOME FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X84 8024 IN THOUSANDS OF DOLLARS Net profit for period Other comprehensive income (net of tax) Gain on revaluation of non-current asset Exchange differences on foreign operations Other comprehensive income for period, net of tax Total comprehensive income for the period attributable to the owners 96 (17) 79 881 Complete this Template STATEMENT OF CHANGES IN EQUITY FOR STATUS QUAD LTD FOR THE YEAR ENDED 30TH JUNE 20X8 IN THOUSANDS OF DOLLARS SHARE CAPITAL COST OF SHARE CAPITAL GENERAL RESERVE RETAINED PROFITS TOTAL EQUITY FOREIGN CURRENCY TRANSLATION RESERVE ASSET REVALUATION SURPLUS RESERVE Balance ate 1 July 20xze L Total Comprehensive Income for periode Profit for period el - H 1 I El H-1 el Exchange differences on foreign operations Gain/(Loss) on revaluation of non-current asset Total Comprehensive Income for period el el A 2 el Sub-total H Transactions with owners recorded directly in equity H] ] El [-] [-] A [-] El - E] E] El El H] E] E Transfer to General Reserved Issue of ordinary sharese Transaction costs for share issuee Total transactions with owners recorded directly in equity Balance ate 30th June 20x8 E- E] H 4782 (52) 62 142 1092 1,4212 2,1042