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Statement of Comprehensive Income (pdf)

   

Added on  2021-05-30

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Solution -1 TAMMY LTD.STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOMEFor the year ended 30 June, 2018(Amount $)Particulars For the Year ended30 June, 2018 REVENUESales3,200,000Less: Cost of sales(1,100,000)Gross Profit2,100,000Other income - Interest income360,000 - Rental income40,000400,000Operating expenses - Bad debt expense220,000220,000Administration expenses - Administrative salaries340,000340,000Depreciation and amortisation expense - Depreciation of office equipment140,000140,000Finance costs
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- Interest expense50,00050,000Profit before tax and extraordinary items1,750,000Extraordinary items - Loss of asset due to natural calamity130,000130,000Profit before tax 1,620,000Tax expense: - Income tax expense300,000Profit for the year - (a)1,320,000Other comprehensive incomeA Items that will be reclassified to profit or loss - Foreign currency translation loss(100,000)(100,000)B Items that will not be reclassified to profit or loss - Revaluation of property, plant and equipment160,000160,000Total other comprehensive income - (b)60,000Total comprehensive income for the year (a+b)1,380,000TAMMY LTD.STATEMENT OF CHANGES IN EQUITYFor the year ended on 30 June, 2018(Amount $)
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ParticularsShareCapital RetainedEarnings Foreign CurrencyTranslation Reserve RevaluationReserve Total Balance as at 1 July, 20171,020,0003,900,000110,00040,0005,070,000Profit for the year1,320,0001,320,000Other comprehensive income(100,000)160,00060,000Total comprehensive income for the yearTransactions with owners in their capacity as owners: - Dividends paid(400,000)(400,000)Balance as at June 30, 20181,020,0004,820,00010,000200,0006,050,000
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