Inventory

Hi Mr Mike, I am really disappointed that there was not consolidated statement of financial position in Section C.

Section A and B was ok but c is made me disappointed by Balance sheet.Anyway

Trial balance 31 December 20×8

Note 1
The another note is that, Asset was revalued 31 December 20×7 (! January 20×8) 3500 but in that date it had 20 years useful life. asset depreciated on straight-line basis.It also says that excess depreciation transferred from revaluation to retained earnings.

My question is that how can i find here depreciation based on historical cost in order to find excess depreciation. such a confusing case probably it just mentioned to confuse students.

I just found depreciation and did not do any excess depreciation if historical cost is not known and there was not any any any P/P/E in the trial balance

There was only Distribution cost, administratove expense, finance cost, investment income, retained earnings, share capital(i remember share capital 6600) only.

Another note was dividend pay 0.2 over share capital of 6600 which will be 1320.ignore this part

Note 2
My question is that, if my opening inventory increase 300 and closing inventory increase 450 it decrease cost of sales and i should add 450 over cost of sales, i just remember of one note of balance sheet.

Note 3

Tax charge was 1200 and temporary taxable differences 12000 at the end of 31 december 20×8.tax rate 26%

My question here is DTL at 31 december 20×8 (2500*26%)-650 this is recognised as liability under non-current liability but will i debit it over tax charge for the year of 1200 personally i just charged only 1200 as tax expense.

Need explanation about inventory, and your comment about my