- 20 Marks
FR – March 2024 – L2 – Q3 – Preparation of Financial Statements
Preparation of the statement of comprehensive income for Skolom Ltd.
Question
The following figures have been extracted from the accounting records of Skolom Ltd on 31 December 2022:
Additional information provided includes notes on Skolom Ltd’s agency arrangements with Keke Ltd, joint venture details, and depreciation policies.
Required:
Prepare for Skolom Ltd in accordance with International Financial Reporting Standards (IFRSs):
a) Statement of Comprehensive Income for the year ended 31 December 2022
b) Statement of Financial Position as at 31 December 2022
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