Chapter 13, Problem 13.4IFRS

(a)

(1)

To determine

Annual Report: Annual report is a detailed report about a company’s activities during a particular period that is its accounting period. It is prepared for the stockholders of the company and the general public.

Financial Statements: A part of annual report that is attributed to the financials of the company for an accounting period is called financial statements. These include income statement, statement of retained earnings, balance sheet and cash flow statement.

To determine: Total equity of Company L at December 31, 2013.

(2)

To determine

total revaluation reserve of Company L at December 31, 2013.

(3)

To determine

number of treasury shares of Company L at December 31, 2013.

(b)

To determine

To identify: The comparable label used by Company L for (1) share capital, (2) share premium and (3) net profit, group share.