Economics Answers

1)   Prepare the statement of profit or loss and other comprehensive income of the Boatyard Limited for the year ended 31 December 20x6 in accordance with International Financial Reporting Standards. (15 marks)

2)   Prepare the current assets and current liabilities sections only of the statement of financial position the Boatyard Limited at 31 December 20x6 in accordance with International Financial Reporting Standards. (6 marks)

3)   Prepare the statement of changes in equity of Boatyard Limited for the year ended 31 December 20x6 in accordance with International Financial Reporting Standards. (7 marks)

Given Q=100K^0.5L^0.5 ,w= 30, r=40

i) Find the quantity of labour and capital that the firm should use in order to minimize the cost of

producing 1444 units of output

ii) What is this minimum cost?

what is globalization

explain what happens in short run and long run under perfectly competitive market structure

Assessment 2.4

Cite two reasons why the commercial genre in Thailand has blossomed. Give a brief explanation for each. 

B. Statement of Comprehensive Income

Directions: Construct and improvise a Statement of Comprehensive Income using the following format and calculated values:

The Mirriam Company has the following SCI (Statement of Comprehensive Income) balances at the end of the year. Prepare an SCI (Statement of Comprehensive Income) which contains the determination of net income and comprehensive income for the period.

Gross Profit = ₱ 2,580,750

Operating Profit = ₱ 1,554,330

Income Tax Expense = 25% of Operating Profit

Comprehensive Income = ₱ 2,000,000

II. PROBLEM

1. Statement of Financial Position (10 points)

Directions: Improvise a Statement of Financial Position based from the given accounts below in ACCOUNT FORM.

The Gelo Corporation has the following balances provided for the year 2020:

TOTAL ASSETS = ₱ 3,500,000

TOTAL LIABILITIES = 2,400,000

TOTAL CURRENT ASSETS = ₱ 2,350,000

TOTAL CURRENT LIABILITIES = ₱ 2,400,000

Accounts Receivable

Notes Payable

Unearned Revenue

Income Tax Payable

Comprehensive Income

Building

Land

Intangible Assets

Noncurrent Receivables

Owner’s Capital

Owner’s Withdrawal

Salaries Payable

Prepaid Expenses

Inventories

Interest Payable

Notes Receivable

What is cpi

how can KZN Establish a city that is responsive to the needs of citizens and stakeholders?