During the year ended 31 December 20X4, Zeta Co was involved in the following situations: 1) A customer filed a legal claim for $150,000 for damages. Zeta's legal advisors believe it is possible (40% likelihood) that the claim will succeed. 2) Zeta has a publicized policy of providing a 3-year warranty on all specialized machinery sold. Based on past experience, it is probable that repairs will be required, costing a total expected value of $60,000. 3) Zeta guaranteed the bank loan of a subsidiary. The likelihood of Zeta having to honor the guarantee is considered remote. According to IAS 37, what is the total amount that should be recognized as a provision in Zeta Co's Statement of Financial Position as at 31 December 20X4?

Alpha Co is both a customer and a supplier to Beta Co. At the financial year-end, Alpha Co's records show a Trade Receivable balance due from Beta Co of $4,850 and a Trade Payable balance due to Beta Co of $3,200. The two companies agree to a contra for the maximum possible amount. Before the contra, Alpha Co received a statement from Beta Co showing a balance due to them of $3,450. The difference was found to be a $250 invoice sent by Beta Co that Alpha Co had not yet recorded. What is the final balance that should be reported in Alpha Co's Statement of Financial Position for Trade Payables relating to Beta Co after all adjustments and the contra?

Troy Co received cash totalling $838,600 from tenants during the year ended 31 December 20X6. Figures for rent in advance and in arrears at the beginning and end of the year were: Rent received in advance: 31 Dec 20X5 = $102,600; 31 Dec 20X6 = $88,700 Rent in arrears: 31 Dec 20X5 = $42,300; 31 Dec 20X6 = $48,400 What amount should appear in Troy Co's statement of profit or loss for the year ended 31 December 20X6 for rental income?