Avoid plagiarism, the work should be in your own words.
Do not copy.
do not plagiarism
Do not use GPT chat.
References are needed proper referencing.
Q1 Globalization demands a single set of high-quality international accounting standards. List the elements of High-Quality Standards and explain the two major boards that sets standards
Q2. Q2. What do you understand by deferrals and accruals in adjusting entries? Give numerical examples on how such adjusting entries are made.
Q3. Fill in the blanks
Q4. a. What do you understand by allocation to non-controlling interest and discontinued operations? Explain how they are reported in the income statement.
Q4b. Intraperiod Tax Allocation.
XYZ Co. has income before income tax of SR 50,000. XYZ Co. has a gain of SR 10,000 from a discontinued operation. Assuming a 35 percent income tax rate, how wouldXYZ Co. present theinformation on the income statement, and if it had a loss of SR 10,000 from a discontinued operation. Assuming a 35 percent income tax rate, show the changes in Income on the income statement
Prepare:
- Changes in Income on the income statement when Loss made from discontinued operations
- Changes in Income on the income statement when Gain made on discontinued operations.
Q5
The following information in SAR. Prepare a Cash Flow Statement:- (3 Marks)
Opening Cash Balance15,000
Closing Cash Balance23,000
Increase in current liabilities13,000
Decrease in current assets17,000
Fixed assets purchase30,000
Redemption of 12% bonds14,000
Profit for the year18,000
Depreciation 4000
