Facts
Z operates in a hyperinflationary economy. Its balance sheet at December 31, 20X5, follows:
|
m. zlotis |
|
|
Property, plant, and equipment |
900 |
|
Inventory |
2,700 |
|
Cash |
350 |
|
Share capital (issued 20X1) |
400 |
|
Retained earnings |
2,350 |
|
Noncurrent liabilities |
500 |
|
Current liabilities |
700 |
The general price index had moved in this way:
|
December 31 |
|
|
20X1 |
100 |
|
20X2 |
130 |
|
20X3 |
150 |
|
20X4 |
240 |
|
20X5 |
300 |
The property, plant, and equipment was purchased on December 31, 20X3, and there is six months’ inventory held. The noncurrent liabilities were a loan raised on March 31, 20X5.
Required
Show the balance sheet of Z after adjusting for hyperinflation.