The following situations are independent of each other and related to the activities and events of Global Berhad in the year 2018. The financial year end for the company is 31 December. (i) In the past, the company expensed borrowing ...
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Kanjombe limited operates a courier service, delivering parcels and important documents in big cities in Namibia. The company owns a fleet of motorbikes, accounted for as Property, plant and equipment. The fleet of motorbikes was purchased on ...
When you acquire a long-term asset, you can include directly attributable costs to the initial measurement of its cost. Although IFRS define directly attributable expenses quite clearly and provide a few examples, there are many different items we are not sure ...
Question 1 to 13 Relates to the following information Financial Instruments Organic Farms Ltd has a 31 December year end. The following transactions relate to Organic Farms Ltd: Transaction 1 Organic Farms Ltd acquired 20 000 shares in Invest Ltd ...
A company capitalised development costs of N$ 320 000 during the year. An amount of N$ 50 000 was recognised as an amortisation expense . Assume the tax authorities will allow the capitalised costs to be written off over a ...
P Ltd.’s profit before tax for the year ended 31 December 2020 amounted to 80 000 Included in this profit is an income of N$12 000 that was received in 2019but accruing in 2020. Tax authorities tax income at the ...
Camel Trading Limited leases an industrial site close to a game reserve. The companyrecently obtained the approval for heavy plant and machinery to operate on the site fora period of five years. The approval is in terms of a license ...
A company sells a vehicle on 31 December 2020 for N$120 000. The vehicle was originally purchased on 1 January 2019 at a cost of N$300 000. The accumulated depreciation on 31 December 2020 is N$200 000. The wear and ...
Cash flow example from an investing activity is, AfroAir (AA) Ltd an airline operating regionally in the SADC area but domiciled in Windhoek, Namibia has overtime been dealing with financial constraint and on the verge of going under. In order ...
A company capitalised development costs of N$ 320 000 during the year. An amount of N$ 50 000 was recognised as an amortisation expense . Assume the tax authorities will allow the capitalised costs to be written off over a ...
