statment showing gain or loss on monetary items..

Question: 1_The opening balance sheet and income statement for the year 2016 of Chand LLC., are as follows: LIABILITES Share Capital 10% Debentures Current Liabilities OMR 700,000 200,000 200.000 ASSETS Plant & Machinery(new) Furniture Inventory Debtors OMR 600,000 80,000 120,000 100,000 200,000 1,100,000 Cash 1,100,000 The general price index during the year was as follows: On 1.1.2016 -300 On 3.12.216 360 Average for the year----- -320 You are required to prepare the final accounts for the year 1996, after adjusting for the price level changes under CPP method. Conversion method or Restatement of income method. Statement showing gain or loss on monetary items Question: 1_The opening balance sheet and income statement for the year 2016 of Chand LLC., are as follows: LIABILITES Share Capital 10% Debentures Current Liabilities OMR 700,000 200,000 200.000 ASSETS Plant & Machinery(new) Furniture Inventory Debtors OMR 600,000 80,000 120,000 100,000 200,000 1,100,000 Cash 1,100,000 The general price index during the year was as follows: On 1.1.2016 -300 On 3.12.216 360 Average for the year----- -320 You are required to prepare the final accounts for the year 1996, after adjusting for the price level changes under CPP method. Conversion method or Restatement of income method. Statement showing gain or loss on monetary items