(a(i))[6]
Explain how the accounts clerk’s errors regarding depreciation on buildings should be corrected. Support your answer with calculations and with reference to the relevant international accounting standards. Use the space provided to show your workings.
(a(ii))[8]
Explain how the accounts clerk’s errors regarding inventory valuation should be corrected. Support your answer with calculations and with reference to the relevant international accounting standards. Use the space provided to show your workings.
(b)[5]
Prepare the corrected statement of changes in equity for the year ended 31 December 2023. A total column is unnecessary.
(c)[6]
Prepare the corrected statement of financial position as at 31 December 2023.