Question 1202930: During 2017 Global discover ed that certain items had been included in inventory at
31 December
2016, valued at TZS 4.2m, which had in fact been sold befor e the year end. The
folowing figures for 2016
(as reported) and 2017 (draft) are available.
Sa les
Cost of goods sold
Profit bef or e taxation
Income taxes
Profit for the period
2016
"000" TZS
Required
47, 400
34,570
12, 830
3, 849
8,981
Retained earnings at 1 January 2016 were TAS 13m.
2017
“000-TZS
67, 200
55,800
comparative, and retained earnings.
11, 400
3, 420
The cost of goods sold for 2017 includes the TZS 4.2m error in opening inventory. The
income tax rate was 30 per cent for 2016 and 2017. No dividends have been declared
or paid.
7 ,980
Show the statement of profit or loss and other comprehensive income for 2017, with
the 2016
Answer by ikleyn(52903)   (Show Source):
You can put this solution on YOUR website! .
Not for this forum.
Your parcel is orthogonal (has nothing in common) to the profile and goals of this forum.
Have a nice day !
Do not post orthogonal parcels in the future.
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