Talbot Pie has in issue 5 000 000 ordinary shares throughout 2017. During 2015 the company had given senior executives options over 400 000 shares excisable at N$110 at any time after May 2018. None were exercised during 2017. The ...
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(a) Mushangalimited purchased a specialised machine on 1 January 2015 for N$10 000 000. Mushanga Limited provides for depreciation on the diminishing balance method at 20%. The following relates to an error made by MushangaLimited 1. It processed depreciation of ...
2020 N$ 000 2019 N$ 000 Income 14 600 12 700 Cost of sales 7 200 6 100 Gross profit 7400 6 600 Operating expenses (3 600) (3 200) Interest paid (500) (400) Profit before tax 3 300 3 000 Taxation (1 320) (1200) Profit and total comprehensive income for the year 1 980 1 800 ADDITIONAL INFORMATION: 2020 N$ 000 2019 N$ 000 Dividends 500 400 Retained earnings: For year 1480 1 400 Opening balance 3 200 1 800 Closing ...
Lima Limited is a company operating in the farming sector. The company purchased its only item of equipment on 2 January 2017 at a cost of N$100 000. During the 2018 financial year, it was discovered that the equipment purchased ...
After the financial statements for 2018 have been prepared, Namib Limited changed its method of depreciating machinery. The previous pattern of depreciation differed from the actual pattern of economic benefits derived from the depreciable assets. As a result, ...
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 ...
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 costs ...
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 ...
IAS 8 Accounting Policies, Accounting Estimates and Errors sets out the criteria for selecting, applying and changing accounting policies as well as relevant disclosures. It also sets out how to account for and present fraud and errors in the financial ...