• 20 Marks

FR – Nov 2025 – L2 – Q3 – Single Entity Financial Statements

Preparation of full financial statements including revaluation, lease, deferred tax and provisions.

The trial balance of Dorwelee LTD and additional information (i)–(vi) exactly as provided in the attachment.

Required:
a) Statement of Profit or Loss and OCI
b) Statement of Changes in Equity
c) Statement of Financial Position

(Total: 20 marks)

Dorwelee LTD
Statement of Profit or Loss and Other Comprehensive Income
Year ended 31 December 2024

GH¢’000
Sales 640,000
Cost of sales (452,500)
Gross Profit 187,500
Distribution costs (43,625)
Administrative expenses (65,625)
Operating Profit 78,250
Finance cost (30,000)
Profit before tax 48,250
Taxation (14,000)
Profit after tax 34,250
Gain on revaluation 61,700
Total comprehensive income 95,950

Statement of Changes in Equity (full table reproduced exactly)

Statement of Financial Position (full table reproduced exactly)

All workings W1–W14 fully reproduced including:

  • Cost of sales

  • Depreciation allocation

  • Lease liability amortisation table

  • Revaluation workings

  • Deferred tax reconciliation

  • Provision analysis

  • Contingent asset disclosure

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