16 acct201 required 1a using the benchmark approach

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: gs as at 1 January 2002 and prepare its requisite journal entry. (4 marks) 2 Prepare the following journal entries required in the year 2002: a) to record the reversal of the borrowing costs charged to the profit & loss account b) to record the additional tax liability for 2002. (2 marks) 3a Present Happiest's adjusted profit and loss account for the year ended 31 December 2002, with restated 2001 comparatives, using the benchmark method. (4 marks) 3b Present Happiest's adjusted balance sheet as at 31 December 2002, with restated 2001 comparatives, the benchmark method. Show clearly the adjustments to opening retained earnings. (6 marks) 4 Prepare the note to the accounts to disclose the information required by SAS 8. (3 marks) (TOTAL FOR QUESTION 4 – 21 MARKS) --------------------- END OF PAPER ----------------------- 17 ACCT201 STUDENT ID NUMBER: _______________________________ ANSWER SHEET for SECTION A 1. ( _ ) 2. ( ) 3. ( ) 4. ( ) 5. ( ) 6. ( ) 7. ( ) 8. ( ) 9. ( ) 10. ( ) 18...
View Full Document

This document was uploaded on 04/07/2014.

Ask a homework question - tutors are online