Financial Accounting, International Edition (with IFRS)
With my passion to change the world through education, I decided to diligently prepare the attached assignments. The more educated we are the the better world we create for the future generations
FAC3704 ASSIGNMENT 2 – SEMESTER 1 OF
2020
Tywin Ltd Group
Consolidated Statement of Profit or Loss & Other Comprehensive Income for
the year ended 31 December 2019
R
4 14 678 800
Revenue [9 851 600 + 4 313 700 + (1 540 500 ∗ )]
12
4
Cost of Sales [5 910 960 + 2 588 220 + (924 300 ∗ )] (8 807 280)
12
Gross Profit 5 871 520
4
Other Income [720 000 + 446 250 + (205 400 ∗ 12)]
9990 562
Share of Profit in Joint Venture (𝑐𝑎𝑙𝑐𝑢𝑙𝑎𝑡𝑖𝑜𝑛 3) 55 162
4
Other Expenses [1 045 000 + 731 250 + (319 670 ∗ 12)] (1 882 807)
Profit before tax 5 034 437
4 (1 462 560)
Income tax expense [1 012 379 + 403 334 + (140 540 ∗ 12)]
Profit for the year 3 571 877
Other Comprehensive Income 14 224
Fair value adjustment on equipment 12 999
Share of fair value adjustment on land in Joint Venture 1 225
Total Comprehensive Income 3 586 101
Profit for the year attributable to:
Owners of the parent 3 404 668
NCI (109 387 + 57 822) 167 209
3 571 877
Other Comprehensive Income attributable to:
Owners of the parent 12 924
NCI 1 300
14 224
Total Comprehensive Income
Owners of the parent (3 404 668 + 12 924) 3 417 592
NCI (167 209 + 1 300) 168 509
3 586 101
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